The following book and fair values were available for Westmont Company as of March 1. $ Inventory Land Buildings Customer relationships Accounts payable Common stock Additional paid-in capital Retained earnings 1/1 Revenues Expenses Book Value 587,750 794,250 1,885,000 @ (102,000) (2,000,000) (500,000) (412,500) (486,500) 314,000 Fair Value 555,250 1.882.250 2,157,500 838,500 (102,000) Arturo Company pays $4,010,000 cash and issues 26,300 shares of its $2 par value common stock (fair value of $50 per share) for all of Westmont's common stock in a merger, after which Westmont will cease to exist as a separate entity. Stock issue costs amount to $25,600 and Arturo pays $44.700 for legal fees to complete the transaction Prepare Arturo's journal entry to record its acquisition of Westmont. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) 3 Record the acquisition of Westmont Company. Note: Enter debits before credits. Transaction Credit General Journal inventory Land Buildings Customer relationships Debit 555,250 1,082,250 2.157,500 838,500 Record entry View general journal Clear enty Record the legal fees related to the combination. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Record the payment of stock issuance costs. Note: Enter debits before credits. Transaction General Journal Debit Credit View general journal Clear entry Record entry