Len Peters and Beau Silver form a partnership to operate a catering business. Peters invests $20,000 cash

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Len Peters and Beau Silver form a partnership to operate a catering business. Peters invests $20,000 cash and Silver invests $30,000 cash on March 1, 2014. Prepare the journal entry to record the formation of the partnership.

Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...
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Fundamental Accounting Principles Volume II

ISBN: 978-1259066511

14th Canadian Edition

Authors: Larson Kermit, Jensen Tilly

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