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On July 1. 2025, Marigold Corporation purchased Young Company by paying $252,700 cash and issuing...

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Accounting

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On July 1. 2025, Marigold Corporation purchased Young Company by paying $252,700 cash and issuing a $136,000 note payable to Steve Young At July 1. 2025, the balance sheet of Young Company was as follows. The recorded amounts all approximate current values except for land (fair value of $63,800 ), inventory (fair value of $124,300 ), and trademarks ifair value of $16,720 ). Prepsre the July 1 entry for Marigold Corporation to record the purchase. ICredit account titles are dutomatically indented when amount is entered, Do not indent manualhs if no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries

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