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Suppose you are considering the purchase of a building. The seller is asking $240,000 for a building that cost her $120,000. An appramat shows

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Suppose you are considering the purchase of a building. The seller is asking $240,000 for a building that cost her $120,000. An appramat shows the building has a value of $215,000 You first offer $206.000 The se counter offers with $225,000 Finally, you and the seller agree on a price of $220,000 What dollar amount for this butang reported on your financial statements? Which accounting anaumption or pronople guides your answer?

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