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 $ 200,500 817,500 2,175,000 0 (87,000) (2,000,000) (500,000) (431,500) (478,500) 304,000 Fair Value $ 167,000 1,097,250 2,506,500 860,250 (87,000) Arturo Company pays $3,650,000 cash and issues 22,500 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 $33,600 and Arturo pays $49,300 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 Journal entry worksheet Record the acquisition of Westmont Company. Note: Enter debits before credits. Transaction General Journal Debit Credit 1