K decker s rosen and e toso are forming a partnership, Ask an Expert

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K. Decker, S. Rosen, and E. Toso are forming a partnership. Decker is transferring $50,910 of personal cash to the partnership. Rosen owns land worth $19,700 and a small building worth $78,220, which she transfers to the partnership. Toso transfers to the partnership cash of $13,430, accounts receivable of $34,220 and equipment worth $19,630. The partnership expects to collect $30,798 of the accounts receivable.
Prepare the journal entries to record each of the partners' investments.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9866331

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