Book value different from the fair value Van NV acquired Jong NV by issuing convertible bonds for $5,000,000 and 500,000 shares of $10 par value of common stock with market value of $5,000,000. Given below is the information of Jong NV’s liabilities at the time of the acquisition (in thousands):

Book Value Fair Value Accounts payable $3,000 $2,500 Unearned revenues 400 400 Interest payable 100 100 Notes payable 6,700 7,000 Bonds payable 12,000 10,000 REQuIRED: Determine the amount of Jong NV’s liabilities to be recognized by Van NV as a result of the acquisition.