The following book and fair values were available for Westmont Company as of March 1. $ $ Book Value 398,500 823,500 1,965,000 0 (113,500) (2,000,000) (500,000) (399,500) (486,000) 312,000 Fair Value 359,500 1,137,750 2,330,250 842,250 (113,500) Inventory Land Buildings Customer relationships Accounts payable Common stock Additional paid-in capital Retained earnings 1/1 Revenues Expenses Arturo Company pays $3,530,000 cash and issues 24,600 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 $33,900 and Arturo pays $51,400 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