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Business, 10.06.2020 21:57 kinslou6506
Dave Krug contributed $1,400 cash along with inventory and land to a new partnership. The inventory had a book value of $1,200 and a market value of $2,800. The land had a book value of $1,800 and a market value of $5,800. The partnership also accepted a $3,400 note payable owed by Krug to a creditor. Prepare the partnership's journal entry to record Krug's investment
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No Transaction General Journal Debit Credit
Cash
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Dave Krug contributed $1,400 cash along with inventory and land to a new partnership. The inventory...
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