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What the cost basis recorded in the buyer accounting records

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Question - A building with an appraisal value of $159,000 is made available at an offer price of $172,000. The purchaser acquires the property for $41,000 in cash, a 90-day note payable for $50,000, and a mortgage amounting to $75,000. What the cost basis recorded in the buyer's accounting records to recognize this purchase?

Reference no: EM133095447

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