A building with an appraisal value of $125,332 is made available at an offer price of $156,559. The purchaser acquires the property for $31,021 in cash, a 90-day note payable for $27,704, and a mortgage amounting to $55,713. The cost basis recorded in the buyer's accounting records to recognize this purchase is a.$114,438 b.$125,538 c.$156,559 d.$125,332

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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A building with an appraisal value of $125,332 is made available at an offer price of $156,559. The purchaser acquires the property for $31,021 in cash, a 90-day note payable for $27,704, and a mortgage amounting to $55,713. The cost basis recorded in the buyer's accounting records to recognize this purchase is

a.$114,438
b.$125,538
c.$156,559
d.$125,332
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