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Helen [10]
4 years ago
14

Equipment with an estimated market value of $55,000 is offered for sale at $75,000. The equipment is acquired for $20,000 in cas

h and a note payable of $40,000 due in 30 days. The amount used in the buyer's accounting records to record this acquisition is ________.
Business
1 answer:
baherus [9]4 years ago
8 0

Answer:

The amount used in the buyer's accounting records to record this acquisition is $60,000.

Explanation:

Amount in the buyer's accounting records to record this acquisition = Cash paid + Note payable

= $20,000 + $40,000

= $60,000

Therefore, The amount used in the buyer's accounting records to record this acquisition is $60,000.

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