On June 30, 2021, Streeter Company reported the following account balances:

Receivables	$	63,900	Current liabilities	$	(13,000	)
Inventory		86,500	Long-term liabilities		(66,500	)
Buildings (net)		90,900	Common stock		(90,000	)
Equipment (net)		28,200	Retained earnings		(100,000	)
Total assets	$	269,500	Total liabilities and equities	$	(269,500	)

On June 30, 2021, Princeton Company paid $319,700 cash for all assets and liabilities of Streeter, which will cease to exist as a separate entity. In connection with the acquisition, Princeton paid $10,100 in legal fees. Princeton also agreed to pay $61,600 to the former owners of Streeter contingent on meeting certain revenue goals during 2022. Princeton estimated the present value of its probability adjusted expected payment for the contingency at $24,600.

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

• It holds a building with a fair value $46,200 more than its book value.
• It has developed a customer list appraised at $29,800, although it is not recorded in its financial records.
• It has research and development activity in process with an appraised fair value of $38,200. 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 entries 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.)