If a building is appraised for $85,000, it is offered for sale at $90,000, and the buyer pays $80,000 cash for it, the buyer would record the building at $85,000.

Name: If a building is appraised for $85,000, it is offered for sale at $90,000, and the buyer pays $80,000 cash for it, the buyer would record the building at $85,000.
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Question

Quizplus · Accepted Answer

The buyer would record the building at the amount paid, which is $80,000, not the appraised value or the offered sale price.

If a Building Is Appraised for $85,000, It Is Offered