The following book and fair values were available for Westmont Company as of March 1 494,000 449, 500 763, 500 1,060, s00 Land Buildings Customer relationships Accounts payable Common stock Additional paid-in capital Retained earninga 1/1 Revenues Expenses 1,975,000 2,303, 500 859,500 0.25 points (118,000) (118,000) (2,000,000) (500,000) (427, 000) (486,000) eBook 298, 500 Print Arturo Company pays $4,060,000 cash and issues 29,600 shares of its $2 par value common stock (fair of Westmont's common stock in a merger, after which Westmont will cease to exist as a separate entity. Stock issue costs amount to $31,200 and Arturo pays $49,000 for legal fees to complete the transaction. Prepare Arturo's journal entry to record its acquistion 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 entgy worksheet Record the acquisition of Westmont Company. Note: Enter debits before credits. Inventory Land Buildings Customer relationships Accounts payable Common stock Additional paid-in capital Retained earninga 1/1 Reven Expenses 494,000 449,500 763, 5001,060,500 1,975,000 2,303, 500 0 859, 500 (118,000) (118,000) (2, 000, 000) 025 points (500, 000) (427,000) (186,000 298,500 elook Print References Arturo Company pays $4.060,000 cash and issues 29.600 shares of ts $2 par value common stock (fair value of $50 per share) forall of Westmont's common stock in a merger, after which Westmont will cease to exist as a separate entity. Stock is $31,200 and Arturo pays $49,000 for legal fees to complete the transaction Prepare Arturo's journal entry to record its acquisition of Westmont (f no entry is required for a transaction/event, select "No journal entry required" in the first ccount field.) View transaction list Journal entry worksheet Record the legal fees related to the combination. Note: Enter debits before credits. General Journal Debit Inventory Land Buildings Customer relationships Accounts payable Common stock Additional paid-in capital Retained earnings 1/1 Revenues Expenses $494,000 449,500 763,500 1,060, 500 1,975,000 2,303, 500 0859,500 (118,000) (118,000) (2, 000,000) 25 nts (500, 000) (427,000) (486,000) 298, s00 eBook Prinn References Arturo Company pays $4,060,000 cash and issues 29,600 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 $31,200 and Arturo pays $49,000 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.) View transaction list Journal entry worksheet Record the payment of stock issuance costs. Note: Enter debits before credits