Please help me to prepare the journal entry from the following the question.

2 BFA605 - Financial and Corporate Accounting Question 1 Almonds L t d has been negotiating with Raisons L t d to buy its wholefood section. The purchase takes place on 1^* July 2014. The wholefood section is considered a Cash Generating Unit and the purchased Assets and Liabilities, at their carrying amounts and at the fair values estimated by Almonds L t d is shown below. Item Accounts receivable Land and buildings Plant & Equipment Patent Accounts payable Cost Accumulated depreciation/ amortisation $ 120,000 500,000 470,000 50,000 110,000 Carrying amount $ 250,000 370,000 120,000 250,000 100,000 50,000 110,000 Fair value $ 118,000 300,000 80,000 65,000 110,000 Included i n the purchases by Almonds L t d was an identifiable intangible asset of a Trademark developed over the years by Raisons L t d . The Trademark has a fair value of $150,000. The purchase consideration for the business consisted of 500,000 $2 ordinary shares in Almonds Ltd, paid to $1.20 and $100,000 in cash to be paid half now and half in one year's time. The discount rate is 10% and the Present Value tables are shown on page 9. Almond L t d incurred legal fees of $2,500 to process the purchase of the wholefood section and $1,500 of direct costs to issue the shares. Required: Prepare the journal entries to record the purchase by Almonds L t d and the total payment to Raisons Ltd. Narrations are not required [Total for Question 1 = 15 marks]