Equipment with an estimated market value of $29,104 is offered for sale at $48,252. The equipment is

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Question:

Equipment with an estimated market value of $29,104 is offered for sale at $48,252. The equipment is acquired for $14,545 in cash and a note payable of $24,477 due in 30 days. The amount used in the buyer's accounting records to record this acquisition is

a. $45,242
b. $16,194
c. $29,048
d. $39,547