Date-Of-Acquisition Information on Fizzy Beverage's Assets and Liabilities Appears Below

Date-of-acquisition information on Fizzy Beverage's assets and liabilities appears below:
$$\begin{array} { | l | c | c | } \hline & \text { Book value } & \text { Fair value } \\\hline \text { Current assets } & \$ 2,000 & \$ 1,500 \\\hline \text { Property, plant, and equipment, net } & 14,000 & 5,000 \\\hline \text { Total assets } & \$ 16,000 & \\\hline & & \\\hline \text { Liabilities } & \$ 9,000 & 9,500 \\\hline \text { Capital stock } & 1,500 & \\\hline \text { Retained earning s } & 6,800 & \\\hline \text { Accumulated other comprehensive loss } & \{ 500 \} & \\\hline \text { Treasury stock } & \underline{ \{ 800 \} }& \\\hline \text { Total liabilities and equity } & \$ 16,000 & \\\hline\end{array}$$ Cola King Company acquires the assets and liabilities of Fizzy Beverage, paying the following amounts:
$\begin{array}{lrr} \text {Cash consideration to the former owners } &\$50\\ \text { Fair yalue of new no-par common stock issued } &60,000\\ \text { Registration fees on new stock issued, paid in cash} &1,000\\ \text { Accounting, consulting, and attorney services, paid in cash} &4,000\\\end{array}$


Fizzy has the following previously unreported intangible assets meeting the criteria for separate recognition as identifiable intangible assets.

$\begin{array}{lrr} \text { Favo rable lease agreements} &\$5,000\\ \text { Developed technology} &40,000\\\end{array}$

The following liabilities previously unreported by Fizzy meet the criteria for separate recognition as acquired liabilities.

$\begin{array}{lrr} \text { Deferred tax liabilities } &\$4,000\\ \text { Wrarranty liabilities } &8,000\\\end{array}$
Required
Cola King records the assets and liabilities of Fizzy directly on its books. Prepare the journal entry or entries Cola King made to record the acquisition.