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LO.3 Rod Clooney purchases Kayla Mitchell's sole proprietorship for $990,000 on August 15,2023. The assets...

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Accounting

LO.3 Rod Clooney purchases Kayla Mitchell's sole proprietorship for $990,000 on August 15,2023. The assets of the business are:
\table[[Asset,Agnes's Adjusted Basis,],[Accounts receivable,$70,000,$70,000
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