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Problem 11-1 Consider Marjean Company Accounts Receivables Inventory Fixed Assets Accum Deprec Module 11 Homework...

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Accounting

Problem 11-1 Consider Marjean Company Accounts Receivables Inventory Fixed Assets Accum Deprec Module 11 Homework $900,000 100.000 $200,000 300,000 800,000 Accounts Payable Note Payable Owners' Equity Common Stock Retained Earnings 250,000 400,000 200,000 450,000 Burden Company will buy this company (Marjean Co) for $975,000. Burden estimates that the Accounts Receivables are worth $180,000, the Inventory is worth $310,000 and the Fixed Assets are worth $740,000. Everything else is worth its book value. Prepare the journal entry made by Burden to record the purchase.

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