Peep Inc. acquired 100% of the outstanding common stock of Shy Inc. for $ 2,582,000 cash and 13,770 shares of its common stock ($2 par value). The stock's market value was $39 on the acquisition date. In addition, Peep Inc. incurred the following direct costs: Accounting fees for the purchase $ 13,870 Legal fees for registering the common stock 31,830 Other legal fees for the acquisition 47,990 Travel expenses to meet with Shy managers 4,710 SEC filing fees 1,960 $ 100,360 Before the acquisition consummation date, $ 92,690 of the direct costs was charged to a deferred charges account pending the completion of the acquisition. The remaining $ 7,670 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 titles and enter 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)