When one media company buys another, goodwill is often the most costly asset acquired. World media paid $700,000 to acquire The Dandy Dime, a weekly advertising paper. At the time of the acquisition, The Dandy Dime's balance sheet reported total assets of $1,200,000 and liabilities of $600,000. The fair market value of the Dandy Dimes assets was $800,000. How much goodwill did World media purchase as part of the acquisition of the Dandy dime? Journalize World Media's acquisition of the dandy dime