only use these options for general journal entry

no journal entry required

bond discount

bond premium

bonds payable

cash

dividend revenue

dividends payable

dividends receivable

equity in investee earnings

gain on sale of investment

goodwill

interest revenue

investments

loss on sale of investments

property and equipment

unrealized gain

unrealized loss

Required information [The following information applies to the questions displayed below] On January 4. David Company acquired all of the net assets (assets and llabilities) of Willam Company for $131,000 cash The two companies merged, with David Company surviving. On the date of acquisition. William's balance sheet included the following The property and equipment had a tair value of $59.000. William aiso owned an internaly developed patent with a fair value of $9,000 (thus, not recorded as an asset on Wiliam's balance sheet). The book values of the cash and liabilities were equal to their fair values. 2. Prepare the joumal entry that David would make to record the merger on January 4. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet The property and equipment had a fair value of $59,000. William also owned an internally develop value of $9,000 (thus, not recorded as an asset on William's balance sheet). The book values of th were equal to their fair values. 2. Prepare the journal entry that David would make to record the merger on January 4 . Note: If no entry is required for a transaction/event, select "No journal entry required" in the first acco Journal entry worksheet Note: Enter debits before credits