The following book and fair values were available for Westmont Company as of March 1. $ Book Value 551,500 771,080 1,895,000 Inventory Land Buildings Customer relationships Accounts payable Common stock Additional paid-in capital Retained earnings, 1/1 Revenues Expenses Fair value $ 515,250 1,050,75 2,252,800 825,000 (102,880) (182,800) (2,000,000) (500,000) (430,000) (495,500) 310,888 Arturo Company pays $4,140,000 cash and issues 20,500 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 $27,600 and Arturo pays $46,900 for legal fees to complete the transaction. Prepare Arturo's journal entries to record its acquisition of Westmont. (If no entry is required for a transaction/event, select "No Journal entry required" In the first account fleld.) View transaction list Journal entry worksheet Record the acquisition of Westmont Company. Note: Enter debits before credits Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal