The following book and fair values were available for Westmont Company as of March 1. Hook Value Tair Value Inventory 261,750 $ 231,500 Land 759,750 1,002.000 Building 2,150,000 2,464,250 Customer relationships 0 849,000 Accounts payable (88,000) (88,000) Common stock (2,000,000) Additional paid-in capital (500,000) Retained earnings, 1/1 (415,5001 Revenues (469,500) Expenses 301,500 Arturo pays cash of $4,318,750 to acquire Westmont. No stock is issued and Arturo pays $46,000 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 field.) View transaction list Journal entry worksheet