On July 1, 2023, Pronghorn Corporation purchased the net assets of Soorya Company by paying $445,
note payable to Soorya. At July 1, 2023, the statement of financial position of Soorya was as follows:
Cash
$74,900
Accounts payable
$319,100
Accounts receivable
110,000
Soorya, capital
232,000
Inventory
97,400
$551.100
Land
48,800
Buildings (net)
74,900
Equipment (net)
96,600
Trademarks (net)
48,500
$551,100
The recorded amounts all approximate current values except for land (worth $58,900), inventory (worth $
(worthless) The receivables are shown net of an allowance for expected credit losses of $13,000. The