On June 30, 2015, Streeter Company reported the following account balances:

Receivables	$	88,200	Current liabilities	$	(16,100	)
Inventory		75,250	Long-term liabilities		(74,250	)
Buildings (net)		87,500	Common stock		(90,000	)
Equipment (net)		29,400	Retained earnings		(100,000	)
Total assets	$	280,350	Total liabilities and equities	$	(280,350	)

On June 30, 2015, Princeton paid $315,200 cash for all assets and liabilities of Streeter, which will cease to exist as a separate entity. In connection with the acquisition, Princeton paid $19,900 in legal fees. Princeton also agreed to pay $66,400 to the former owners of Streeter contingent on meeting certain revenue goals during 2016. Princeton estimated the present value of its probability adjusted expected payment for the contingency at $23,700.

In determining its offer, Princeton noted the following pertaining to Streeter:

	It holds a building with a fair value $44,900 more than its book value.
	It has developed a customer list appraised at $29,000, although it is not recorded in its financial records.
	It has research and development activity in process with an appraised fair value of $39,100. However, the project has not yet reached technological feasibility and the assets used in the activity have no alternative future use.
	Book values for the receivables, inventory, equipment, and liabilities approximate fair values.

Prepare Princetons accounting entry to record the combination with Streeter. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)