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A building with an appraisal value of $130,704.00 is made available at an offer price of $157,956.00. The purchaser acquires the property for $39,743.00 in
A building with an appraisal value of $130,704.00 is made available at an offer price of $157,956.00. The purchaser acquires the property for $39,743.00 in cash, a 90-day note payable for $30,700.00, and a mortgage amounting to $59,658.00. What is the cost basis recorded in the buyer's accounting records to recognize this purchase?
Select the correct answer.
$157,956.00
$130,101.00
$130,704.00
$118,213.00
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