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Sellco established a car dealership in a town. This dealership is popular as no other town nearby has a showroom. The owner of this dealership

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Sellco established a car dealership in a town. This dealership is popular as no other town nearby has a showroom. The owner of this dealership wanted to sell and retire. Purchaseco came forward to buy this dealership for a price of $380,000 On the date of sale the balance sheet of Sellco is as under: The fair market values of the assets and liabilities revealed the following: Please find out thegoodwill / bargain purchase amount and also prepare the journal entry on the day of acquision

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