The notes to the financial statements of Colgate-Palmolive contained the following information:

Assume that the fair value of the net assets of Mennen equaled S410 million and the par value of Colgate-Palmolive's common stock was $2 per share. Prepare the entry on the date of the acquisition assuming it is a merger.

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2. Acquisitions In March 1992, the Company acquired the Mennen Company for an aggregate price of $670 million paid with 11.6 million shares of the Company's common stock and $127 million in cash.