Question: Problem 0 8 - 4 8 ( Algo ) [ LO 8 - 1 , 8 - 7 , 8 - 8 ] Ms .

Problem 08-48(Algo)[LO 8-1,8-7,8-8]
Ms. Drake sold a business that she had operated as a sole proprietorship for 18 years. On the date of sale, the business balance sheet showed the following assets:
\table[[Accounts receivable,Tax Basis],[Inventory,$51,700
Problem 0 8 - 4 8 ( Algo ) [ LO 8 - 1 , 8 - 7 , 8

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