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Potters has acquired several other companies. Assume that Potters purchased Kelleher for $12,000,000 cash. The book value of Kelleher's assets is $12,000,000 (market value, $18,000,000), and it has liabilities of $11,000,000 (market value, $11,000,000). Requirements Compute the cost of goodwill purchased by Potters Record the purchase of Kelleher by Potters. 2. Requirement 1. Compute the cost of goodwill purchased by Potters Purchase price to acquire Kelleher Market value of Kelleher's assets Less: Market value of Kelleher's liabilities Less: Market value of Kelleher's net assets Goodwill Requirement 2. Record the purchase of Kelleher by Potters, Inc. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit