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Business, 09.09.2019 22:30 Stuckonhomework

Pun corporation concluded the fair value of slender company was $60,000 and paid that amount to acquire its net assets. slender reported assets with a book value of $55,000 and fair value of $71,000 and liabilities with a book value and fair value of $20,000 on the date of combination. pun also paid $4,000 to a search firm for finder’s fees related to the acquisition. required: prepare the journal entries to be made by pun to record its investment in slender and its payment of the finder's fees. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)

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