s 4.5 points On J 31, 2019, Maje Ce agent all of the common stock of Golden Company, which becade of Majestic Co Golden reported the following state of food pestion at the see of the acpim Golden Company Statement of Financial Potion Auct Plata (het) Equity and Liabiliti $1.250.000 Inventory 370,000 Share capital ondary Retained earnings $1,045.000 Receivables Cash Tital arts 750,000 350.000 Accounts payable 1,000,000 675.000 $2.720.000 Total eputy and lates $2.720 000 An appraisal indicated that the fair value of the inventory was $375,000 and the fair value of the plant anets was $1,450,000 The agreed purchase price ww $3,000,000, and this was paid in cash to the previous ones of Golden Company Required: Prepare the entry to recoed the purchase of Golden Company b Assume that the carrying amount of Goldon Company division's net assets, including goodwill is $2.800,000 The recoverable amount of the division is estimated to be $3,200,000 Prepare the journal entry to record the impairment loss (if any) on December 31, 2019