Do not copy and paste solution from other resouces because the numbers are different.

Do not copy and paste solution from other resouces because the numbers are different.

Do not copy and paste solution from other resouces because the numbers are different.

Do not copy and paste solution from other resouces because the numbers are different.

Do not copy and paste solution from other resouces because the numbers are different.

Problem 11-3 This is data from the Marjean Company: Accounts Receivable $100,000 Inventory 80,000 Fixed Assets $600,000 Accum Deprec 200,000 400,000 Accounts Payable Note Payable Owners' Equity 30,000 150,000 400,000 Burden Co. will buy Marjean Company for $1,300,000. They estimate the Accounts Receivable are worth $ 96,000, the Inventory is worth $90,000 and the Fixed Assets are worth $500,000. The kete Payable-is-interest only at 10% with the principat the years from..eday. Everything else is worth its book value. Prepare the journal entry for the purchase on Burden Co.'s books