Planter Corporation used debentures with a par value of $627,000 to acquire 100 percent of Sorden Companys net assets on January 1, 20X2. On that date, the fair value of the bonds issued by Planter was $610,000. The following balance sheet data were reported by Sorden:

Balance Sheet Item	Historical Cost					Fair Value
Assets
Cash & Receivables		$	62,000				$	43,000
Inventory			102,000					185,000
Land			63,000					95,000
Plant & Equipment			403,000					290,000
Less: Accumulated Depreciation			(153,000	)
Goodwill			19,000
Total Assets		$	496,000				$	613,000
Liabilities and Equities
Accounts Payable		$	44,000				$	44,000
Common Stock			99,000
Additional Paid-In Capital			56,000
Retained Earnings			297,000
Total Liabilities & Equities		$	496,000

Required: Prepare the journal entry that Planter recorded at the time of exchange. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)