Please be as detailed as possible!

Susie Corporation is buying all the assets and assuming all the liabilities of John's Barbeque Company. The following information is available for John's at the date of the purchase: Accounts Receivable 250,000 Accounts payable 150,000 Inventory 100,000 Note Payable 100,000 Land 300,000 Common Stock 200,000 Retained Earnings 400,000 The accounts receivable are worth $200,000, the inventory is worth $75,000 and the land is worth $500,000. The Accounts Payable is worth book value. The Note Payable debt is worth book value. Susie will pay $700,000 for John's. Prepare the journal entry to record the purchase