Pun Corporation concluded the fair value of Slender Company was $$64,000$ and paid that amount to acquire its net assets. Slender reported assets with a book value of $$53,000$ and fair value of $$62,000$ and liabilities with a book value and fair value of $$30,000$ on the date of combination. Pun also paid $$10,000$ to a search firm for finder's fees related to the acquisition.

Required:

Prepare the journal entries to be made by Pun to record its investment in Slender and its payment of the finder's fees.

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

Journal entry worksheet

A

B

Record the acquisition of assets.

Note: Enter debits before credits.

$\backslash$table$[[$Event$,$General Journal,Debit,Credit$],[1,,,],[,,,],[,,,],[,,,],[,,,],[,,,]]$