Diamond acquired Heart's net assets. At the time of the acquisition Heart's Balance sheet was as follows: 
Required:
Record the entry for the purchase of the net assets of Heart by Diamond at the following cash prices:
a.$700,000
b.$300,000
Definitions:
Interpreting Sentences
The process of understanding and deriving meaning from spoken or written language constructs.
Unconscious Process
Mental activities beyond conscious awareness, influencing perceptions, thoughts, and behaviors without an individual's voluntary control.
Ongoing Fashion
The current style or trend in clothing, accessories, or overall dress that continues to develop or evolve.
Interpret Sentences
The cognitive process of understanding the meaning of phrases and clauses in language.
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