Prepare the entry on the date of acquisition as a merger. (If no entry is required for a transaction/event, select "No journal entry required" in the first account filed. Enter your answers in millions)

The notes to recent nancial statements of Colgate-Palmolive contained the following information (dollar amounts in millions): 3. Acquisitions and Divestitures On June 20, 2011, the Company . . . nalized the Company's acquisition from Unilever ofthe Sanex personal care business . . .for an aggregate purchase price of $966. . . . This strategic acquisition is expected to strengthen Colgate's personal care business in Europe, primarily in the liquid body cleansing and deodorants business. Total purchase price consideration of $966 has been allocated to the net assets acquired based on their respective fair values at June 20, 2011. . . . Colgate-Palmolive acquired 100 percent of the fair value of the net assets of Sanex for $966 million in cash. Assume that Sanex's assets (not detailed) at the time of the acquisition had a book value of $480 million and a fair value of $625 million. Colgate-Palmolive also assumed Sanex's liabilities of $70 million (book value and fair value ofthe liabilities are the same, not detailed). Prepare the entry on the date of acquisition as a merger. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Journal entry worksheet Record the entry on the date of acquisition as a merger. Note: Enter debits before Credits. Clear entry View general journal