Business, 17.12.2020 17:10 amortalstardev

Angela Moss and Autumn Barber organize a partnership on January 1. Moss's initial net investment is $92,000, consisting of cash ($30,000), equipment ($77,000), and a note payable reflecting a bank loan for the new business ($15,000). Barber's initial investment is cash of $37,000. These amounts are the values agreed on by both partners. Prepare journal entries to record (1) Moss’s investment and (2) Barber’s investment.

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Angela Moss and Autumn Barber organize a partnership on January 1. Moss's initial net investment is...

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