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Home / Questions / A building with an appraisal value of $130,704.00 is made available at an offer price of $157,956.00

A building with an appraisal value of $130,704.00 is made available at an offer price of $157,956.00

A building with an appraisal value of $130,704.00 is made available at an offer price of $157,956.00. The purchaser acquires the property for $39,743.00 in cash, a 90-day note payable for $30,700.00, and a mortgage amounting to $59,658.00. What is the cost basis recorded in the buyer's accounting records to recognize this purchase?

Select the correct answer.

$157,956.00

$130,101.00

$130,704.00

$118,213.00

Apr 08 2020 View more View Less

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