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Business, 15.04.2021 18:20 faithclark0

Salvador, who owned a retail shoe store, decided to sell the business. The assets of the business consisted of a one story building worth $100,000, merchandise worth $50,000, accounts receivable of $10,000, fixtures worth $30,000 and goodwill estimated at $50,000. He owed various wholesalers a total of $20,000 for shoes bought by him on credit. Salvador offered to sell all of these assets to Byron for $220,000 cash, provided that Byron would also agree to assume payment of the $20,000 owed for merchandise. Byron agreed, and a written contract was executed by both parties. Upon payment of $220,000 by Byron, Salvador signed a

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Salvador, who owned a retail shoe store, decided to sell the business. The assets of the business co...
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