Question: On December 3 1 , 2 0 X 2 , X Company paid $ 3 , 6 0 0 , 0 0 0 for 1

On December 31,20X2, X Company paid $3,600,000 for 100% of the
stock of Y Company when Ys underlying net assets had a fair value
of $2,800,000. Almost immediately after the acquisition, X paid
$240,000 for an advertising campaign that was designed to maintain
goodwill. How much will be reported as goodwill on X Companys
December 31,20X3 balance sheet?

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