Prepare all journal entries on Pidris's books to record the acquisition.

Pidris Company issued 480,000 shares of $10 par common stock with a fair value of $10, 200,000 for all the voting common stock of Salim Company. In addition, Pidris incurred the following costs: Legal fees to arrange the business combination $100,000; Cost of SEC registration, including accounting and legal fees $48,000; cost of printing and issuing net stock certificates $12,000; Indirect costs of combining, including allocated overhead and executive salaries $80,000. Immediately before the acquisition in which Salim Company was dissolved, Salim's assets and equities were as follows (in thousands): Prepare all journal entries on Pidris's books to record the acquisition