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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