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The balance sheet of Cattleman's Steakhouse shows assets of $85,500 and liabilities of $14,300. The fair value of the assets is $90,600 and the fair

The balance sheet of Cattleman's Steakhouse shows assets of $85,500 and liabilities of $14,300. The fair value of the assets is $90,600 and the fair value of its liabilities is $14,300. Longhorn paid Cattleman's $82,920 to acquire all of its assets and liabilities. Longhorn should record goodwill on this purchase of. Multiple Choice O $2,580 $6.900. $11,720 $6,620

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