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37. Bob is investing in a partnership with Andy. Bob contributes as part of his initial investment, Accounts Receivable of $80,000; an Allowance for Doubtful

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37. Bob is investing in a partnership with Andy. Bob contributes as part of his initial investment, Accounts Receivable of $80,000; an Allowance for Doubtful Accounts of $12,000; and $8,000 cash. The entry that the partnership makes to record Bob's initial contribution includes a: a. credit to Bob, Capital for $88,000 b. debit to Accounts Receivable fro $68,000 c. credit to Bob, Capital for $76,000 d. debit to Allowance for Doubtful Accounts for $12,000

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