John's Company Accounts Receivables Inventory Fixed Assets $100,000 Accounts Payable 50,000 200,000 Note Payable 500,000 $900,000...

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John's Company Accounts Receivables Inventory Fixed Assets $100,000 Accounts Payable 50,000 200,000 Note Payable 500,000 $900,000 Owners' Equity Accum Deprec (100,000) 800,000 Common Stock 200,000 Retained Earnings 350,000 Debbie's Company will buy John's Company for $1,500,000. You estimate that the Inventory is worth $175,000 and the Fixed Assets are worth $700,000. Everything else is worth its book value. Prepare the journal entry made by your company to record the purchase. John's Company Accounts Receivables Inventory Fixed Assets $100,000 Accounts Payable 50,000 200,000 Note Payable 500,000 $900,000 Owners' Equity Accum Deprec (100,000) 800,000 Common Stock 200,000 Retained Earnings 350,000 Debbie's Company will buy John's Company for $1,500,000. You estimate that the Inventory is worth $175,000 and the Fixed Assets are worth $700,000. Everything else is worth its book value. Prepare the journal entry made by your company to record the purchase.