The following book and fair values were available for Beech Company as of June $1$:

Items Book Value Fair Value

Inventory $ $281,500$ $ $250,000$

Land $805,5001,112,250$

Buildings $2,070,0002,416,500$

Trademarks $0870,000$

Accounts payable $(82,500)(82,500)$

Common stock $(2,000,000)0$

Additional paid$-$in capital $(500,000)0$

Retained earnings, $1/1(421,500)0$

Revenues $(446,000)0$

Expenses $293,0000$

Alder Company pays $$3,860,000$ cash and issues $29,500$ shares of its $$2$ par value common stock $($fair value of $$50$ per share$)$ for all of Beech$$s common stock in a merger, after which Beech will cease to exist as a separate entity. Stock issue costs amount to $$29,400,$ and Alder pays $$50,000$ for legal fees to complete the transaction.

Required:

Prepare Alder$$s journal entries to record its acquisition of Beech.