$$75,000.$ Prepare the acquisition entry and the balance sheet of Allen Corporation after the following business combination:

$(2)$ Allen issues stock with a fair value of $$800,000$ to acquire Benson.

Not all drop$-$down answers may be required for the journal entry. If an account is not required, select $"$N$/$A$"$ as your answer.

Not all accounts listed will have a balance. If a balance isn't required, leave answer field blank $($or enter zero$).$

Allen Corp.

Post$-$Combination Balance Sheet Not all drop$-$down answers may be required for the journal entry. If an account is not required, select $"$N$/$A$"$ as your answer.

Not all accounts listed will have a balance. If a balance isn't required, leave answer field blank $($or enter zero$).$

Allen Corp.

Post$-$Combination Balance Sheet

Required

Prepare the acquisition entry and the balance sheet of Allen Corporation after the following business combination:

$(1)$ Allen acquires Benson for $$400,000$ cash.

Not all drop$-$down answers may be required for the journal entry. If an account is not required, select $"$N$/$A$"$ as your answer.

Not all accounts listed will have a balance. If a balance isn't required, leave answer field blank $($or enter zero$).$

Allen Corp.

Post$-$Combination Balance Sheet