The following book and fair values were available for Westmont Company as of March 1. Book Value Fair Value 630,000 600,000 Inventory Land Buildings Custoner relationships Accounts payable Common atock Additional paid-in capital Retained earnings 1/1 Revenues Expenses 750, 000 1,700, 000 2,000,000 800, 000 (80,000) (80,000) (2,000, 000) (500, 000) (360, 000) (420, 000) 280, 000 Arturo Company pays $4,000,000 cash and issues 20,000 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 $25,000 and Arturo pays $42,000 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.)