=+The purchase consideration was agreed at 150,000 and the company took over all the assets and the

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=+The purchase consideration was agreed at £150,000 and the company took over all the assets and the liability to the creditors, but the bank overdraft was discharged by Day and Night. In arriving at the purchase price, stocks were revalued at £21,000, a reserve of £5,000 was considered necessary in respect of a doubtful debt, and plant and machinery was revalued at £30,000.

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