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A building with an appraisal value of $137000 is made available at an offer price of $142000. The purchaser acquires the property for $30000 in cash - a 90-day note payable for $40000 - and a mortgage amounting to $60000. The cost basis recorded in the buyer’s accounting records to recognize this purchase is

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A building with an appraisal value of $137000 is made available at an offer price of $142000. The purchaser acquires the property for $30000 in cash - a 90-day note payable for $40000 - and a mortgage amounting to $60000. The cost basis recorded in the buyer’s accounting records to recognize this purchase is






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