Three years ago, Michelle bought a custom-made bookcase to fit in the corner of her apartment. She paid $1,000 for it. To replace it today would cost $1,500; however, if she had to sell it, she believes she could get only $700

The appropriate balance sheet amount for the bookcase is
A)

$1,000.
B)

$1,500.
C)

$ 700.
D)

$1,200.


C

Business

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