Peanut pays the following costs in cash at the time of the merger:

At the time of the stock issue, Peanut's shares were selling for $$18$ per share and Strawberry's shares were selling for $$15$ per share.

Balance sheets and fair value information for the two companies on December $31,x1$ were as follows:

Prepare the necessary journal entries on Peanut$$s books to record the merger assuming that Strawberry is dissolved $($Hint: there are $3$ journal entries$)$