Problem 2-31 (Algo) (LO 2-4, 2-5, 2-6a) Allerton Company acquires all of Deluxe Company's assets and liabilities for cash on January 1, 2024, and subsequently formally dissolves Deluxe. At the acquisition date, the following book and fair values were available for the Deluxe Company accounts: Items Current assets Building Land Trademark Goodwill Liabilities Common stock Book Values Fair Values $ 33,000 103,250 $ 33,000 54,250 31,750 43,850 0 34,600 15,500 ? (48,500) (48,500) (100,000) (35,000) 0 0 Retained earnings Required: a. and b. Prepare Allerton's journal entry to record its acquisition of Deluxe in its accounting records assuming the following cash exchange amounts: $155,000 and $94,000. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.