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What cost basis recorded in buyer accounting records

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Question - 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 $44,000 in cash, a 90-day note payable for $48,000, and a mortgage amounting to $84,000. What the cost basis recorded in the buyer's accounting records to recognize this purchase?

Reference no: EM133062250

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