Barbara Ripley and Fred Nichols decide to organize the ALL$-$Star partnership. Ripley invests $$20,700$ cash, and Nichols contributes $$12,000$ cash and equipment having a book value of $$4,416.$

Prepare the entry to record Nichols$$s investment in the partnership, assuming the equipment has a fair value of $$5,520.$Current Attempt in Progress

Barbara Ripley and Fred Nichols decide to organize the ALL$-$Star partnership. Ripley invests $$20,700$ cash, and Nichols contributes

$$12,000$ cash and equipment having a book value of $$4,416.$

Prepare the entry to record Nichols's investment in the partnership, assuming the equipment has a fair value of $$5,520.($Credit account

titles are automatically indented when amount is entered. Do not indent manually.$)$

Account Titles and Explanation

Debit

Credit

eTextbook and Media

Assistance Used

eTextbook

Last saved $1$ second ago.

Attempts: $0$ of $5$ used