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How much should be recorded as goodwill for this transaction

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Reference no: EM132318509

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Annapolis Company was recently sold for $450,000. Annapolis had assets & liabilities appraised at the time of the sale in the amounts of:

Item                                                       Amount

Accounts Receivable assumed by buyer        $96,000

Inventory                                                $255,000

Property, Plant & Equipment (net)                $585,000

Notes Payable assumed by buyer                 $675,000

Using this information, how much should be recorded as Goodwill for this transaction?

Reference no: EM132318509

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