Receivables Inventory Copyrights Patented technology Total assets Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and equities Carrying Amount $ 148,900 $ 77,600 147,500 912,000 Fair Value 148,900 77,600 508,500 762,000 $ 1,286,000 $ 1,497,000 $ 250,000 $ 715,000 100,000 221,000 $ 1,286,000 250,000 703,400 On that day, Zambrano paid cash to acquire all of the assets and liabilities of Soriano, which will cease to exist as a separate entity. To facilitate the merger, Zambrano also paid $114,000 to an investment banking firm. The following information was also available: Zambrano further agreed to pay an extra $84,600 to the former owners of Soriano only if they meet certain revenue goals during the next two years. Zambrano estimated the present value of its probability adjusted expected payment for this contingency at $42,300. Soriano has a research and development project in process with an appraised value of $253,000. However, the project has not yet reached technological feasibility and the project's assets have no alternative future use. a&b. Prepare Zambrano's journal entries to record the Soriano acquisition assuming its initial cash payment to the former owners was (a) $729,400 & (b) $856,500. (If no entry is required for a transaction/event, select "No journal entry required" in the first account