Return to que Pab Corporation decided to establish Sollon Company as a wholly owned subsidiary by transferring some of its existing assets and Habilities to the new entity. In exchange, Sotton issued Pab 35,000 shares of $7 par value common stock. The following information is provided on the assets and accounts payable transferred. Book Value Fair Value Cash $ 36,000 $ 36,00 $36.000 Inventory 85,000 85, 71,000 71,00 101,00 Buildings 178,000 138,000 254,000 Equipment 70,000 114,000 Accounts Payable 61,080 61,000 Cost 85.000 Land 91,000 61,000 Required: a. Prepare the journal entry that Pab recorded for the transfer of assets and accounts payable to Sollon. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.)