DeVry Student Portal | Home x | Week 1: Quiz x | M McGraw Hill - Connect X M Question 5 - Week 1: Quiz - X Course Hero x | + C . ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F9%252Fconnect.mheducation.com$%252Fconnect9%252Fitiwrapp Week 1: Quiz Saved Help Save & Exit 5 During the current year, Brewer Company acquired all of the outstanding common stock of Miller Incorporated paying $12,300,000 cash. The book values and fair values of Miller's assets and liabilities acquired are listed below. Book Value Fair Value Accounts receivable $ 1,950,000 $ 1, 775,000 Inventories Property, plant, and equipment 11,925,000 Accounts payable 3,300,090 3,300,090 Bonds payable 4,800,090 4,425,000 Required: Prepare the journal entry to record the acquisition by Brewer Company. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet