Plains Company Pays $15,000,000 in Cash to Acquire the Assets

Plains Company pays $15,000,000 in cash to acquire the assets and liabilities of Southwest Corporation. Southwest's balance sheet at the date of acquisition, including fair values of reported assets and liabilities, appears below. In addition, Southwest has previously unreported technology valued at $2,000,000.
$$\begin{array} { | l | r | r | } \hline { \text { Southwest Corporation } } \\\hline & \text { B ook Value } & \text { Fair Value } \\\hline \text { Assets } & & \\\hline \text { Current assets } & \$ 5,000,000 & \$ 3,000,000 \\\hline \text { Plant \& equipment, net } & 20,000,000 & 30,000,000 \\\hline \text { Total assets } & \$ 25,000,000 & \\\hline & & \\\hline \text { Liabilities \& Equity } & & \\\hline \text { Liabilities } & \$ 22,000,000 & 21,000,000 \\\hline \text { Capital stock } & 4,000,000 & \\\hline \text { Retained earnings } & \{ 950,000 \} & \\\hline \text { AOCl } & \{ 50,000 \} & \\\hline \text { Total liabilities \& equity } & \$ 25,000,000 & \\\hline\end{array}$$ Required
Prepare Plains' journal entry to record its acquisition of Southwest.