Problem $2-23($Algo$)($LO $2-6$a$,2-6$b$)$

The following book and fair values were available for Beech Company as of June $1$:

Items Book Value Fair Value

Inventory $ $375,750$ $ $341,250$

Land $797,2501,082,250$

Buildings $2,040,0002,340,000$

Trademarks $0861,000$

Accounts payable $(93,500)(93,500)$

Common stock $(2,000,000)0$

Additional paid$-$in capital $(500,000)0$

Retained earnings, $1/1(437,500)0$

Revenues $(495,000)0$

Expenses $313,0000$

Alder Company pays $$4,010,000$ cash and issues $20,100$ shares of its $$2$ par value common stock $($fair value of $$50$ per share$)$ for all of Beech$$s common stock in a merger, after which Beech will cease to exist as a separate entity. Stock issue costs amount to $$23,000,$ and Alder pays $$45,800$ for legal fees to complete the transaction.

Required:

Prepare Alder$$s journal entries to record its acquisition of Beech.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.