Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet Record the purchase of SKK Corporation. Note: Enter debits before credits. On January 1, 20X2, Prost Company acquired all of SKK Corporation's assets and liabilities by issuing 25,700 shares of its $5 par value common stock. At that date, Prost shares were selling at \$22 per share. Historical cost and fair value balance sheet data for SKK at the time of acquisition were as follows: Prost paid legal fees for the transfer of assets and liabilities of $17,000. Prost also paid audit fees of $24,000 and listing application fees of $16,000, both related to the issuance of new shares. Required: Prepare the journal entries made by Prost to record the business combination. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet Record the purchase of SKK Corporation. Note: Enter debits before credits. On January 1, 20X2, Prost Company acquired all of SKK Corporation's assets and liabilities by issuing 25,700 shares of its $5 par value common stock. At that date, Prost shares were selling at \$22 per share. Historical cost and fair value balance sheet data for SKK at the time of acquisition were as follows: Prost paid legal fees for the transfer of assets and liabilities of $17,000. Prost also paid audit fees of $24,000 and listing application fees of $16,000, both related to the issuance of new shares. Required: Prepare the journal entries made by Prost to record the business combination. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field