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After the formation of ABC Ventures, Alice contributes $110,000 in cash and $30,000 worth of office supplies, while Bob contributes $80,000 in cash and $50,000

After the formation of ABC Ventures, Alice contributes $110,000 in cash and $30,000 worth of office supplies, while Bob contributes $80,000 in cash and $50,000 worth of machinery. Prepare the balance sheet for the partnership.

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