Annapolis Company was recently sold for $490,000.Annapolis had assets & liabilities appraised at the time of the sale in the amounts of:
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Annapolis Company was recently sold for $490,000. Annapolis had assets & liabilities appraised at the

time of the sale in the amounts of:

Item

Amount

Accounts Receivable assumed by buyer

$114,000

Inventory

$255,000

Property, Plant & Equipment (net)

$580,000

Notes Payable assumed by buyer

$685,000

Using this information, how much should be recorded as Goodwill for this transaction?

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