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On July 1, 2017 Chicago Inc Purchased the net assets of Del Inc by paying $415,000 in cash and issuing a $50,000 note payable to Del Inc. At July 1st, 2017, the statement of financial position of Del Inc was as follows: 0000 Cash $75,000 Accounts Receivable $102,000 Inventory $98,000 Land $50,000 Buildings (net) $75,000 Equipment (net) $90,000 Trademarks (net) $49,000 Total Assets $539,000 Accounts Payable $300,000 Del, Capital $239,000 Total Liabilities and Equity $539,000 osno The recorded amounts all approximate current values except for land (worth $60,000), inventory (worth $125,000) and trademarks (worthless). The receivables are shown net of an allowance for doubtful accounts of $12,000. The amounts for buildings, equipment and trademarks are shown net of accumulated amortization of $14,000, $23,000 and $47,000 respectively. (a) Prepare the July 1, 2017 entry for Chicago Inc to record the purchase