On May 1, Soriano Co. reported the following account balances along with their estimated fair values Carrying Amount Receivables Inventory Copyrights Patented technology: Total assets Current liabilities: Long-term liabilities Common stock Retained earnings Total liabilities and equities: Fair Value 284,400 $ 284,400 75,600 78,600 145,000 528,000 873,000 731,000 $1,381,000 $1,622,000 . $ $ 257,000 $ 742,000 100,000 282,000 $ 1,381,000 257,000 722,500 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 $145,500 to an investment banking firm, The following information was also available: Zambrano further agreed to pay an extra $84,800 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 $42,400. Soriano has a research and development project in process with an appraised value of $237.500. However, the project has not yet reached technological feasibility and the project's assets have no alternative future use Soriano has a research and development project in process with an appraised value of $237,500. 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) $813,800 & (b) $923,600. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)