Bestvalue Airlines' June 1, 2020 Balance Sheet Is as Follows

Bestvalue Airlines' June 1, 2020 balance sheet is as follows (in thousands):
$\begin{array}{|l|r|l|r|}\hline \text { Assets } & & \text { Liabilities \& Equity } & \\\hline \text { Cash } & \$ 1,400 & \text { Current liabilities } & \$ 3,200 \\\hline \text { Receivables } & 650 & \text { Long-term debt } & 5,000 \\\hline \text { Investments } & 1,000 & \text { Common stock, \$0.01 par } & 1 \\\hline \text { Maintenance supplies } & 150 & \text { Additional paid-in capital } & 5,500 \\\hline \begin{array}{c}\text { Flight equipment \{net of } \$ 2,000 \\\text { accumulated depreciation\} }\end{array} & 8,500 & \text { Retained earnings \{deficit\} } & \{2,300\} \\\hline \text { International routes } & 700 & \begin{array}{l}\text { Accumulated other } \\\text { comprehensive income }\end{array} & 1,999 \\\hline & & \text { Treasury stock } & \{1,000\} \\\hline \text { Total assets } & \$ 12,400 & \text { Total liabilities \& equity } & \$ 12,400 \\\hline\end{array}$
Safebuy Airlines acquired Bestvalue on June 1, 2020, in an acquisition reported as a merger. Bestvalue's cash, receivables, investments, and current liabilities were reported at fair value. Its maintenance supplies had a fair value of $200,000, flight equipment had a fair value of $10 million, and international routes were worth $400,000. Long-term debt had a fair value of $5.1 million. Bestvalue also had an unrecorded intangible, representing leases with favorable terms, worth $600,000, which meets ASC 805 criteria for separate capitalization. Safebuy paid $12 million in cash for Bestvalue.
Required
Present Safebuy's journal entry to record the acquisition. Express all dollar amounts in thousands.