A building with an appraisal value of 12564200 is made, Ask an Expert

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A building with an appraisal value of $125,642.00 is made available at an offer price of $150,801.00. The purchaser acquires the property for $32,969.00 in cash, a 90-day note payable for $21,931.00, and a mortgage amounting to $57,802.00. What is the cost basis recorded in the buyer's accounting records to recognize this purchase?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9960690

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