The following book and fair values were available for Westmont Company as of March 1. Book Value Fair Value $ 333,250 281,250 1,059,000 2,025,000 2,385,750 820,500 Inventory Land Buildings Customer relationships Accounts payable Common stock Additional paid-in capital Retained earnings 1/1 Revenues Expenses 794,250 (94,500) (94,500) (2,000,000) (500,000) (396,000) (473,500) 311,500 Arturo Company pays $3,900,000 cash and issues 29,000 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 $26,600 and Arturo pays $45,000 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.)