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What is simon basis in the accounts receivable

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Question - Simon is purchasing Tina's business for $9,000. The FMV of the assets are as follows:

Accounts Receivable              $1,000

Equipment                              2,500

Furniture                                500

Building                                  5,000

Land                                      1,000

                                             $10,000

What is Simon's basis in the Accounts Receivable?

Reference no: EM131771270

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