Accounting records to recognize this purchase


Question: The buildings appraisal value is $127,000 is made available at an offer price of $157,000. Purchaser aquires the property for $30,000 in cash, a 90-day not payable for $30,000, and a mortgage amounting to $50,000. The cost basis recorded in the buyers accounting records to recognize this purchase is?

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Accounting Basics: Accounting records to recognize this purchase
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