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1. Goodwill Recognition Barcelona reported that the following balance sheet amounts on December 31, 20X5: Balance Sheet Item (USD) Historical Cost Fair Value Cash &

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1. Goodwill Recognition Barcelona reported that the following balance sheet amounts on December 31, 20X5: Balance Sheet Item (USD) Historical Cost Fair Value Cash & Receivables 100.000 105.000 Inventory 200.000 150.000 Land 400.000 430.000 Plant & Equipment 500.000 550.000 Less: Accumulated Depreciation -250.0001 Patent 150.000 Total Assets 950.000 1.385.000 Accounts Payable Common Stock Additional Paid-In Capital Retained Earnings Total Liabilities & Equities 280.000 300.000 500.000 30.000 140.000 950.000 Required Golden acquired Barcelona's assets and liabilities for $1.270.000 cash on December 31, 20X5. Give the entry that Golden made to record the purchase

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