Requirement 1. Record the above transactions of Carrington Parts Co. Round all amounts to the nearest dollar.Jul. 2. Paid $690,000 plus $25,000

in legal fees (pertaining to all assets purchased) to purchase the assets from a competitor who was going out of business. Record the acquisition of the assets. (Record debits first, then credits. Exclude explanations from journal entries. Do not round intermediary calculations. Only round your answers to the nearest dollar.)

Carrington Parts Co. has a fiscal year ending December 31. The company completed the following selected transactions: (Click here to view the transaction data.) Required 1. Record the above transactions of Carrington Parts Co. Round all amounts to the nearest dollar. 2. Show the balance sheet presentation of the assets at December 31, 2020. Journal Entry Date 2019 Accounts Debit Credit Jul