The following book and fair values were available for Westmont Company as of March 1. Inventory Land Buildings Customer relationships Accounts payable Common stock Additional paid-in capital Retained earnings 1/1 Revenues Expenses Book Value Fair Value $ 367,500 $ 318,000 756,000 998, 250 2,040,000 2,346,000 0 842,250 (88,000) (88,000) (2,000,000) (500,000) (412,000) (446,000) 282,500 Arturo pays cash of $4,286,500 to acquire Westmont. No stock is issued and Arturo pays $46,100 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 acquisition of Westmont Company