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 $ 486,000 817,500 2.605,000 e (128,500) (2,000,000) (500,000 (424,500) (482,500) 307.000 Fair Value $363.500 1,087,500 2,314,750 868,500 (128,500) Arturo Company pays $4,150,000 cash and issues 22,800 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 $33,500 and Arturo pays $44.000 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 Record the acquisition of Westmont Company. Note: Enter debits before credits Transaction General Journal Debit Credit 1