Hoover Company acquired Burgess Company for $1,200,000 cash. The fair value of Burgess's assets was $1040,000, and the company had liabilities of $60,000. Which of the following journal entries would be used to record the purchase of Burgess Company? Multiple Choice Burgess Burgess liabilities 1,040,000 60,000 100.000 1,200,000 Burgess Cash 200.000