On May 1, Soriano Co. reported the following account balances along with their estimated fair values: Carrying Amount Fair Value Receivables $ 148,900 $ 148,900 Inventory 77,600 77,600 Copyrights 147,500 508,500 Patented technology 912,000 762,000 Total assets $ 1,286,000 $ 1,497,000 Current liabilities $ 250,000 $ 250,000 Long-term liabilities 715,000 703,400 Common stock 100,000 Retained earnings 221,000 Total liabilities and equities $ 1,286,000 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 $114,000 to an investment banking firm. The following information was also available: Zambrano further agreed to pay an extra $84,600 to the former owners of Soriano only if they meet certain revenue goals during the next two years. Zambrano estimated the present value of its probability adjusted expected payment for this contingency at $42,300. Soriano has a research and development project in process with an appraised value of $253,000. However, the project has not yet reached technological feasibility and the projects assets have no alternative future use. a&b. Prepare Zambranos journal entries to record the Soriano acquisition assuming its initial cash payment to the former owners was (a) $729,400 & (b) $856,500. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)