Question: Byrde Company purchased a truck. The seller asked for $ 1 3 , 2 0 0 , but Byrde paid only $ 1 2 ,

Byrde Company purchased a truck. The seller asked for $13,200, but Byrde paid only $12,200 after negotiation. The owner of Byrde Company believes he got a great deal and the truck is really worth $17,200. What amount does Byrde record on its financial statements for the truck?

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