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4. Charlie wants to be a partner in the Allison and Baker partnership. Allison and Baker both currently have a $50,000 capital balance in the
4. Charlie wants to be a partner in the Allison and Baker partnership. Allison and Baker both currently have a $50,000 capital balance in the partnership. Charlie knows that he will contribute his $80,000 to be an equal partner in the partnership, but is unsure of whether he will contribute the factory to the individuals or the partnership. a. What would be the entry if it is contributed Allison and Baker? b. What would be the entry if it is contributed to the partnership
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