IOU Inc Purchased All of the Outstanding Common Shares of UNI

IOU Inc. purchased all of the outstanding common shares of UNI Inc. for cash of $800,000. On the date of acquisition, UNI's assets included $2,000,000 of Inventory and Land with a Book value of $120,000. UNI also had $1,400,000 in Liabilities on that date. UNI's book values were equal to their fair market values, with the exception of the company's Land, which was estimated to have a fair market value which was $50,000 higher than its book value.
Which of the following is the correct journal entry to record IOU's acquisition of UNI?
A.
$\begin{array}{|l|r|r|}\hline & \text { Debit } & \text { Credit } \\\hline \text { Investment in UNI } & \$ 800,000 & \\\hline \text { Cash } & & \$ 800,000 \\\hline\end{array}$
B.
$\begin{array}{|l|r|r|}\hline & \text { Debit } & \text { Credit } \\\hline \text { Inventory } & \$ 2,000,000 \\\hline \text { Land } & \$ 170,000 \\\hline \text { Goodwill } & \$ 30,000 & \\\hline \text { Liabilities } & & \$ 1,400,000 \\\hline \text {cash } & & \$ 800,000\\\hline\end{array}$
C.
$\begin{array}{|l|r|r|}\hline & \text { Debit } & \text { Credit } \\\hline \text { Net Assets } & \$ 800,000 & \\\hline \text { Cash } & & \$ 800,000 \\\hline\end{array}$
D. No entry.