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How much should be recorded as Goodwill for this transaction

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Question - Annapolis Company was recently sold for $490,000. Annapolis had assets & liabilities appraised at the time of the sale in the amounts of:

Item Amount

Accounts Receivable assumed by buyer $114,000

Inventory $255,000

Property, Plant & Equipment (net) $580,000

Notes Payable assumed by buyer $685,000

Using this information, how much should be recorded as Goodwill for this transaction?

Reference no: EM132445836

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