Princess has acquired several other companies. Assume that Princess purchased Kelleher for $8,000,000 cash. The book value of Kelleher's assets is $16.000.000 (market value $18,000,000), and it has liabilities of $12,000,000 (market value $12,000,000) Requirements 1 Compute the cost of goodwill purchased by Princess 2 Record the purchase of Kelleher by Princess Requirement 1. Compute the cost of goodwill purchased by Princess Purchase price to acquire Kelleher Market value of Kelleher's assets Less: Market value of Kelleher's liabilities Less: Market value of Kelleher's net assets Goodwill Requirement 2. Record the purchase of Kelleher by Princess, Inc. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Debit Credit Date Accounts and Explanation Choose from any list or enter any number in the input fields and then continue to the next