Van NV acquired Jong NV by issuing convertible bonds for $5,000,000 and 500,000 shares of $10 par value of common stock with market value of...

Van NV acquired Jong NV by issuing convertible bonds for $5,000,000 and 500,000 shares of $10 par value of common

stock with market value of $5,000,000. Given below is the information of Jong NV's liabilities at the time of the

acquisition (in thousands):

Book Value Fair Value

Accounts payable $3,000 $2,500

Unearned revenues 400 400

Interest payable 100 100

Notes payable 6,700 7,000

Bonds payable 12,000 10,000

REQUIRED : Determine the amount of Jong NV's liabilities to be recognized by Van NV as a result of the

acquisition.