Business, 12.10.2020 19:01, jalst6084

Pun Corporation concluded the fair value of Slender Company was $67,000 and paid that amount to acquire its net assets. Slender reported assets with a book value of $53,000 and fair value of $64,000 and liabilities with a book value and fair value of $21,000 on the date of combination. Pun also paid $14,000 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.

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Pun Corporation concluded the fair value of Slender Company was $67,000 and paid that amount to acqu...