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As part of the initial investment, Jackson contributes accounts receivable that had a balance of $38,473 in the accounts of a sole proprietorship. Of this
As part of the initial investment, Jackson contributes accounts receivable that had a balance of $38,473 in the accounts of a sole proprietorship. Of this amount, $1,308 is deemed completely worthless. For the remaining accounts, the partnership will establish a provision for possible future uncollectible accounts of $873. The amount debited to Accounts Receivable for the new partnership is Oa. $36,292 Ob. $37,000 Cc 538,473 Od. $37,165
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