On May 1 Soriano Co. reported the following account balances along with their estimated fair values: Carrying Receivables Inventory Copyrights Patented technology Total assets Current liabilities Long-term liabilities Common stock Retained carnings Total liabilities and equities Amount Fate Value $ 187,100 $ 187,100 79,400 79,400 126,500 502, 500 854.000 649.000 S 1207.000 31,413.000 $ 232,890 5 232,000 695,000 683,880 100,000 220,000 5 1,247,600 On that day, Zambrano paid cash to acquire all of the assets and liabilities of Soriano, which will cease to exist as a separate entity. To facilitate the merger. Zambrano also paid $140.000 to an investment banking firm, The following information was also available: Zambrano further agreed to pay an extra $85.200 to the former owners of Soriano only if they meet certain revenue gools during the next two years. Zambrano estimated the present value of its probability adjusted expected payment for this contingency at $42.600 Soriano has a research and development project in process with an appraised value of $211500. However, the project has not yet reached technological feasibility and the project's assets have no alternative future use. a&b. Prepare Zambrano's joumal entries to record the Soriano acquisition assuming its initial cash payment to the former owners was (a) 5646,400 & (b) 5761,300. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction line Journal entry worksheet Record the acquisition of Soriano Co. Assume its initial cash payment to the former owners was $646,400. Hotel Enter debits before credite Transaction General Journal Debit Credit Record entry Chiar entry View general al