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how much should be recorded as Goodwill for this transaction

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Question - Annapolis Company was recently sold for $460,000. 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 $275,000

Property, Plant & Equipment (net) $600,000

Notes Payable assumed by buyer $605,000

How much should be recorded as Goodwill for this transaction?

Reference no: EM132593872

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