The following book and fair values were available for Westmont Company as of March 1.

	Book Value			Fair Value
Inventory	$	375,750		$	341,250
Land		797,250			1,082,250
Buildings		2,040,000			2,340,000
Customer relationships		0			861,000
Accounts payable		(93,500	)		(93,500	)
Common stock		(2,000,000	)
Additional paid-in capital		(500,000	)
Retained earnings, 1/1		(437,500	)
Revenues		(495,000	)
Expenses		313,000

Arturo pays cash of $4,338,000 to acquire Westmont. No stock is issued and Arturo pays $45,800 for legal fees to complete the transaction.

Prepare Arturos journal entries to record its acquisition of Westmont.

• Record the acquisition of Westmont Company.
• Record the legal fees related to the combination.