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Telecom Inc has decided to purchase the shares of Intron Inc.for $300,000 in Cash on July 1,2009.On the date,the balance sheets of each of these companies were as follows: On that date,the fair values of Intron's Assets and Liabilities were as follows:
-Assume that Intron's Assets and Liabilities were purchased instead of its shares for $300,000.Prepare the journal entry to record this purchase.

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Telecom Inc has decided to purchase the shares of Intron Inc.for $300,000 in Cash on July 1,2009.On the date,the balance sheets of each of these companies were as follows:  On that date,the fair values of Intron's Assets and Liabilities were as follows: 
-Assume that Intron's Assets and Liabilities were purchased instead of its shares for $300,000.Prepare the journal entry to record this purchase.

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Telecom Inc has decided to purchase the shares of Intron Inc.for $300,000 in Cash on July 1,2009.On the date,the balance sheets of each of these companies were as follows:  On that date,the fair values of Intron's Assets and Liabilities were as follows: 
-Assume that Intron's Assets and Liabilities were purchased instead of its shares for $300,000.Prepare the journal entry to record this purchase.

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