The following book and fair values were available for Westmont Company just prior to the acquisition:

	Book Value	Fair Value
Cash	$600,000	$600,000
Land	750,000	990,000
Goodwill	10,000
Buildings	1,700,000	2,000,000
Customer relationships	0	800,000
Accounts payable	(80,000)	(80,000)
Common stock	(2,000,000)
Additional paid-in capital	(500,000)
Retained earnings, 1/1	(360,000)
Revenues	(420,000)
Expenses	280,000

Arturo Company pays $4,200,000 cash for all of Westmonts common stock in a merger, after which Westmont will cease to exist as a separate entity.

Required: a) Prepare Arturos journal entry to record its acquisition of Westmont.

b)what would the journal entry be if Westmont continues to exist as Arturo's subsidiary (i.e., Stock Acquisition)?