What good are 24 year old logs... really!
Certainly having a complete set of logs since new is desirable for a number of reasons, but there is nothing in them that would preclude having to do a complete and very thorough inspection of everything, including verifying every AD and many bulletins since day one. That's something I would do anyway on any first annual. There are no life-limited parts on 150's, so even TBO and TTSN is somewhat irrelevent. Order the FAA CD and start a new set of logs. Overhaul the engine (if testing and inspection indicates the need) and repair and inspect the airframe and everything else and sign off the annual in the new logs. An airplane like this (cheap but needing repairs) is exactly what I was looking for when I bought my first 150. I didn't think I could afford an airworthy airplane, and had planned to restore a derelict like this one from the wheels up... as the plane I would keep for my remaining lifetime... NOT as an investment venture. I got lucky and found 6184G instead, and flew her home.
They don't make 150's or 152's anymore! Every single one that can be returned to service is a blessing to it's owner, and to the rest of us.