Peep Inc. acquired 100% of the outstanding common stock of Shy Inc. for $2,297,400 cash and 14,710 shares of its common stock ($2 par value). The stock's market value was $42 on the acquisition date. In addition, Peep Inc. Incurred the following direct costs: Accounting fees for the purchase Legal fees for registering the common stock Other legal fees for the acquisition Travel expenses to meet with Shy managers SEC filing fees $15,320 30,900 41,680 5,190 2,020 $95,110 Before the acquisition consummation date, $88,580 of the direct costs was charged to a deferred charges account pending the completion of the acquisition. The remaining $6,530 has not been accrued or pald. Before the acquisition consummation date, $88,580 of the direct costs was charged to a deferred charges account pending the completion of the acquisition. The remaining $6,530 has not been accrued or paid. Prepare the journal entry to record both the acquisition and the direct costs. (If no entry is required, select "No Entry" for the account tities and enter o for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit (To record the acquisition) (To record the direct costs)