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The balance sheet of Cattleman's Steakhouse shows assets of $88,800 and liabilities of $17,000. The fair value of the assets is $93,000 and the fair

The balance sheet of Cattleman's Steakhouse shows assets of $88,800 and liabilities of $17,000. The fair value of the assets is $93,000 and the fair value of its liabilities is $17,000. Longhorn paid Cattleman's $101,000 to acquire all of its assets and liabilities. Longhorn should record goodwill on this purchase of

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