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 $47,870 of personal cash to the partnership. Rosen owns land worth $14,400 and a small building worth $82,790, which she transfers to the partnership. Toso transfers to the partnership cash of $11,010, accounts receivable of $30,960 and equipment worth $18,920. The partnership expects to collect $27,864 of the accounts receivable.

Prepare the journal entries to record each of the partners’ investments. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91975323

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