The following book and fair values were available for Westmont Company as of March 1 Book Value Fair Value $ 261,750 $ 231, 500 759,750 1,002,000 2,150,000 2,464,250 849,000 Inventory Land Buildings Customer relationships Accounts payable Common stock Additional paid-in capital Retained earnings 1/1 Revenues Expenses (88,00) (88,000) (2,000,000) (500,000) (415,500) (469,500) 301,500 Arturo pays cash of $4,318,750 to acquire Westmont. No stock is issued and Arturo pays $46,000 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.)