On July 1, 2025 Brigham Corporation purchased Young Company by paying $257,700 cash and issuing a $123,000 note payable to Steve Young. At July 1, 2025, the balance sheet of Young Company was as follows.

oung Company was as follows.

Cash		$50,800		Accounts payable		$204,000
Accounts receivable		89,900		Stockholders? equity		235,800
Inventory		102000				$439,800
Land		40,200
Buildings (net)		75,000
Equipment (net)		70,300
Trademarks		11,600
		$439,800

The recorded amounts all approximate current values except for land (fair value of $63,100), inventory (fair value of $125,300), and trademarks (fair value of $15,280.

Prepare the July 1 entry for Brigham Corporation to record the purchase. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Account Titles and Explanation	Debit	Credit