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What value will be recorded for the building

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Q: Byrd Corporation acquired real estate that contained land, building and equipment. The property cost Byrd $850,000. Byrd paid $175,000 and issued a note payable for the remainder of the cost. An appraisal of the property reported the following values: Land, $95,000; Building, $640,000 and Equipment, $265,000. What value will be recorded for the building?

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Accounting Basics: What value will be recorded for the building

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