Thorn Company acquires Underbrush Company for 2,000,000 shares of $0.50 par common stock with a market price of $15/share. Underbrush has the following assets and liabilities reported on its balance sheet at the date of acquisition:
	Book Value	Fair Value
Current assets	$400,000	$500,000
Plant assets	1,200,000	700,000
Liabilities	500,000	450,000
Following are previously unreported assets identified as belonging to Underbrush:
	Fair Value
Contracts under negotiation with potential customers	$5,000,000
In-process research & development	2,500,000
Patent rights	3,000,000
Skilled workforce	10,000,000
Required
Prepare the journal entry to record the acquisition on Thorns books, as a merger.
Not all drop-down answers may be required for the journal entry. If an account is not required, select "N/A" as your answer.
Enter all zeros with your numerical answers, do not abbreviate your answers in thousands or in millions.
Description	Debit	Credit
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Common Stock Par
Additional Paid In Capital