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 $ 281,500 $ 250,000 805,500 1,112,250 2,070,000 2,416,500 0 870,000 (82,500) (82,500) (2,000,000) (500,000) (421,500) (446,000) 293,000 Arturo pays cash of $4,365,250 to acquire Westmont. No stock is issued and Arturo pays $50,000 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 Record the acquisition of Westmont Company. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal