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Ameera and Batool organize a partnership on January 1. Ameera's initial net investment is $300,000, consisting of cash ($70,000), equipmer ($330,000), and a note
Ameera and Batool organize a partnership on January 1. Ameera's initial net investment is $300,000, consisting of cash ($70,000), equipmer ($330,000), and a note payable reflecting a bank loan for the new business ($100,000). Batool's initial investment is cash of $150,000 Prepare journal entry to record Ameera's investment. Cash Dr 70,000 Equipment Dr 330,000 Ameera's Capital Cr 400,000 Cash Dr 150,000 Ameera's capital Cr 150,000 Cash Dr 70,000 Equipment Dr 330,000 Loan Payable Cr 100.000 Ameera's Capital Cr 300.000 Cash: Dr 300,000 Ameera's Capital Cr 300,000 Activate Windows
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