The Larisa Company is exiting bankruptcy reorganization with the following accounts:

	Book Value			Fair Value
Receivables	$	83,000		$	96,000
Inventory		203,000			216,000
Buildings		303,000			406,000
Liabilities		303,000			303,000
Common stock		333,000
Additional paid-in capital		26,000
Retained earnings (deficit)		(73,000	)

The company's assets have a $763,000 reorganization value. As part of the reorganization, the company's owners transferred 80 percent of the outstanding stock to the creditors.

Prepare the journal entry that is necessary to adjust the company's records to fresh start accounting. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)