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Peal Corporation issued 4,000 shares of its $10 par value stock with a market value of $85,000 to acquire 85 percent of the common stock of Seed Company on August 31, 20X3. Seed's fair value was determined to be $100,000 on that date. Peal had previously purchased 15 percent of Seed's common stock for $9,000 on January 31, 20X1, and had carried this Investment at fair value on Its balance. Peal reported this Investment at $15,000 on its balance sheet at August 31, 20X3, Immediately prior to acquiring the remaining 85 percent of Seed's shares. On August 31, 20X3, Peal also paid appraisal fees of $3,500 and stock Issue costs of $2,000 Incurred In completing the acquisition of the additional shares. Required: Prepare the journal entries to be recorded by Peal In completing the acquisition of the additional shares of Seed. Note: If no entry Is required for a transaction/event, select "No Journal entry required" In the first account field. X Answer is not complete. No Event General Journal Debit Credit A Acquisition Expense 3,500 Cash 3.500 Additional paid-in capital X 45.000 X B 2 Cash 2.000 Deferred Stock Issue Costs 2.000 Additional paid-in capital X 45,000 X C 3 Investment in Seed Company stock V 85,000 Additional paid-in capital 40.000 X Common stock 40,000