Peal Corporation issued $4,000$ shares of its $$10$ par value stock with a market value of $$85,000$ to acquire $85$ percent of the common stock of Seed Company on August $31,20$X$3.$ Seed's falr value was determined to be $$100,000$ on that date. Peal had previously purchased $15$ percent of Seed's common stock for $$9,000$ on January $31,201,$ and had carried this investment at fair value on its balance. Peal reported this investment at $$15,000$ on its balance sheet at August $31,203,$ Immediately prior to acquiring the remaining $85$ percent of Seed's shares. On August $31,20$X$3,$ Peal also pald appralsal fees of $$3,500$ and stock Issue costs of $$2,000$ Incurred in completing the acquisition of the additional shares.

Requlred:

Prepare the Journal entries to be recorded by Peal in completing the acquisition of the additional shares of Seed.

Note: If no entry is required for a transactlon$/$event$,$ select $"$No journal entry required" In the first account fleld.