A Building with an Appraisal Value of $147,000 Is Made

Multiple Choice

A building with an appraisal value of $147,000 is made available at an offer price of $152,000. The purchaser acquires the property for $35,000 in cash, a 90-day note payable for $45,000, and a mortgage amounting to $65,000. The cost basis recorded in the buyer's accounting records to recognize this purchase is

A) $147,000
B) $152,000
C) $145,000
D) $110,000