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A company owns an office building with an adjusted basis of $450,000, subject to a...

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Accounting

A company owns an office building with an adjusted basis of $450,000, subject to a mortgage of $250,000. The company sells the property for $150,000 in cash, a note for $400,000, and the buyer assumes the mortgage. What is the gain realized? Question 19 options: $50,000 $800,000 $100,000 $350,000

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