6) During the current year, Brewer Company acquired all of the outstanding common stock of...
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6) During the current year, Brewer Company acquired all of the outstanding common stock of Miller Incorporated paying $12,700,000 cash. The book values and fair values of Miller's assets and liabilities acquired are listed below: Book Value Fair Value Accounts receivable $ 2,150,000 $ 1,975,000 Inventories 3,400,000 4,700,000 Property, plant, and equipment 9,700,000 12,325,000 Accounts payable 3,700,000 3,700,000 Bonds payable 5,200,000 4,825,000 Prepare the journal entry to record the acquisition by Brew
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