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Cost basis recorded in the buyer

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A building with an appraisal value of $156,000 is made available at an offer price of $175,000. The purchaser acquires the property for $49,000 in cash, a 90-day note payable for $55,000, and a mortgage amounting to $75,000. The cost basis recorded in the buyer's accounting records to recognize this purchase is

Reference no: EM133254046

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