International Auto (IA) acquires Genuine Parts, Inc. (G
P). The acquisition involves the following payments: The acquisition also results in a deferred tax asset valued at $1,000. Required IA acquires all of the assets and liabilities of GP. Prepare the journal entry or entries IA makes to record this acquisition.

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The Answer of International Auto (IA) acquires Genuine Parts, Inc. (G
P). The acquisition involves the following payments: The acquisition also results in a deferred tax asset valued at $1,000. Required IA acquires all of the assets and liabilities of GP. Prepare the journal entry or entries IA makes to record this acquisition.

International Auto (IA) Acquires Genuine Parts, Inc