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Swifty Corporation purchased a trade name, customer list, and manufacturing equipment for a lump sum...

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Accounting

Swifty Corporation purchased a trade name, customer list, and manufacturing equipment for a lump sum of $781,000. The fair market
values of each asset are $307,520,$317,130, and $336,350, respectively. There were initial operating losses of $14,200 during the
first four months after the assets were put into use. Prepare the journal entry to record the treatment of these costs. (Do not round
intermediate calculations. Round answers to O decimal places, eg.5,275. Credit account titles are automatically indented when the amount is
entered. Do not indent manually. 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.)
Account Titles and Explanation
Debit
Credit
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