On September 1, 2021, Frost Corporation acquired Cattle Enterprises for a cash payment of $820,000. At the time of purchases, Cattle's balance sheet showed Assets of $610,000, Liabilities of $240,000, and Stockholders' Equity of $370,000. The fair value of Cattle's assets is estimated to be $970,000. Required: What is the journal entry to record the purchase of Cattle Enterprises. Date Accounts Debit Credit