Purple Corp. purchased all of the listed assets and liabilities of Sudden Corp. for $1,820,000. The following assets and liabilities were purchased: Fair Market Book Value Accounts receivables $175,000 Inventory 178,000 Property, plant, and equipment (net) 800,000 Patent Liabilities 0 (225,000) Value $175,000 313,500 1,187,000 315,000 (225,000) Required: 1. What is the appropriate amount that would be recorded for goodwill? 2. Prepare the journal entry for the acquisition. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet < Record the acquisition entry. Note: Enter debits before credits fransaction General Journal Debit Credit