Peter Corporation purchased the net assets of Salim, Inc. on January 2, 2020 for $380,000 cash and also paid $15,000 in direct acquisition costs. Salim, Inc. was dissolved on the date of the acquisition. Salim's balance sheet on January 2, 2020 was as follows: Accounts receivable-net $90,000 Current liabilities $75,000 Inventory 220,000 Long term debt 80,000 Land 30,000 Common stock ($1 par) 10,000 Building-net 20,000 Addtl paid-in capital 215,000 Equipment-net 40,000 Retained earnings 20,000 Total assets $400,000 Total liab. & equity $400,000 Fair values agree with book values except for inventory, land, and equipment, which have fair values of $260,000, $35,000 and $35,000, respectively. Salim has patent rights with a fair value of $20,000. Required: Prepare Peter's general journal entry for the cash purchase of Salim's net assets