During the current year, Brewer Company acquired all of the outstanding common stock of Miller Inc. paying $11,800,000 cash. The book values and fair values of Miller's assets and liabilities acquired are listed below: Book Value Fair Value Accounts receivable $ 1,700,000 $ 1,525,000 Inventories 2,500,000 3,800,000 Property, plant, and equipment 8,800,000 11,425,000 Accounts payable 2,800,000 2,800,000 Bonds payable 4,300,000 3,925,000 Required: Prepare the journal entry to record the acquisition by Brewer Company. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)