Question Record the journal entry on the books of Pham Company to record the acquisition on January $1,2024.($Credit account titles are

automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles

and enter $O$ for the amounts. List all debit entries before credit entries.$)$

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Sarasota Company acquired the assets $($except for cash$)$ and assumed the liabilities of Pharoah Company on January $1,2024,$ paying $$737,000$ cash. Pharoah Company's December $31,2023,$ balance sheet, reflecting both book values and fair values, showed:

$\backslash$table$[[,$Book Value,Fair Value$],[$Accounts receivable $($net$),$$$89,000,$$$82,300],[$Inventory$,103,000,116,500],[$Land$,101,700,155,200],[$Buildings $($net$),386,000,461,800],[$Equipment $($net$),254,000,310,000],[$Total$,$$$933,700,$$$1,125,800],[$Accounts payable,$$100,000,$$$100,000],[$Note payable,$197,000,197,000],[$Common stock, $$2$ par value,$170,000,],[$Other contributed capital,$246,000,],[$Retained earnings,$220,700,],[$Total$,$$$933,700,]]$

As part of the negotiations, Sarasota Company agreed to pay the former stockholders of Pharoah Company $$203,300$ cash if the postcombination earnings of the combined company $($Sarasota$)$ reached certain levels during $2024$ and $2025.$ The fair value of contingent consideration was estimated to be $$111,600$ on the date of acquisition.

Need help completing chart and missing one account title and explanation