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.

Module 11 Homework Problem 11-1 Consider Dezie's Company Accounts Receivables $300,000 Accounts Payable Inventory 200,000 Note Payable Fixed Assets $900,000 Owners' Equity Accum Deprec 100,000 800,000 Common Stock Retained Earnings 250,000 400,000 200,000 450,000 Hayley's Company will buy this company (Dezie's) for $1,200,000. Hayley estimates that the Accounts Receivables are worth $280,000, the Inventory is worth $220,000 and the Fixed Assets are worth $740,000. Everything else is worth its book value. Prepare the journal entry made by Hayley to record the purchase