The following book and fair values were available for Westmont Company as of March 1. Inventory Land Buildings Customer relationships Accounts payable Comonon stock Additional paid in capital Retained earningo, 1/1 Revenues Expenses Book Value Pair Value $ 450,250 $ 413,750 785,250 1,091,250 1,920,000 2,292,750 0 846,000 (109,500) (109,500) (2,000,000) (500,000) (399,500) (433,500) 287,000 Arturo Company pays $3,460,000 cash and issues 29,100 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 $29,600 and Arturo pays $50,800 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 View journal entry worksheet nak Credit