Pali Corporation exchanges 200,000 shares of newly issued $10 par value common stock with a fair market value of $40 per share for all the outstanding $5 par value common stock of Shingle Incorporated,which continues on as a legal entity.Fair value approximated book value for all assets and liabilities of Shingle.Pali paid the following costs and expenses related to the business combination: 
Required: Prepare the journal entries relating to the above acquisition and payments incurred by Pali,assuming all costs were paid in cash.
Definitions:
Self-Disclose
The act of revealing personal, private, or sensitive information about oneself to others.
High Self-Esteem
A condition of holding oneself in high regard, characterized by positive self-assessment and confidence in one's abilities and worth.
Self-Esteem
An individual's overall subjective emotional evaluation of their own worth, encompassing beliefs about oneself as well as an emotional state.
Self-Concept
An individual's awareness and understanding of who they are, as reflected in their beliefs, attitudes, and perceptions about themselves.
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