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ake the appropriate journal entries for Shamrock Industries

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Reference no: EM132619263

Question - Shamrock Industries purchased all the following assets and liabilities of Protector Goods for $956,000 cash:

 

Book Value

Fair Value

Accounts Receivable

$135,000

$135,000

Inventory

98,000

105,000

Property, Plant & Equipment (net)

563,000

692,000

Land

141,000

160,000

Accounts Payable

84,000

84,000

Notes Payable

111,000

111,000

Required - Make the appropriate journal entries for Shamrock Industries on acquisition.

Reference no: EM132619263

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