Question 2 e Andrew Company has committed to buying the assets and liabilities of the Jacob Company. Andrew will pay lacob, the purchase. The balance sheet for Jacob as of December 31, 2018 is shown below. it is determined that ater than shown on the balance sheet the fair value of the land and fair value of the building is $37,000 and $29,000 gre respectively. The fair value of the receivables is $15,000 less than shown on the balance sheet. Jacob Company Balance Sheet 31-Dec-18 Assets Cash Accts Rec Inventory Land Liabilities & S.Equity 26,000 Accts Pay 145,000 Note Pay 45,000 c. Stock 39,000 R.E. 31,000 81,000 100,000 188,000 145,000 400,000 Buildings al Assets Total Liab & SE 400,000 Required Calculate the Goodwill that Andrew will record on the purchase Prepare the journal entry to record the purchase on Andrew's books. 1. 2