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Barbara Ripley and Fred Nichols decide to organize the ALL-Star partnership. Ripley invests $24,600 cash, and Nichols contributes $16,000 cash and equipment having a book

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Barbara Ripley and Fred Nichols decide to organize the ALL-Star partnership. Ripley invests $24,600 cash, and Nichols contributes $16,000 cash and equipment having a book value of $5,248. Prepare the entry to record Nichols's investment in the partnership, assuming the equipment has a fair value of $6,560. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit eTextbook and Media Save for Later Attempts: 0 of 5 used Submit

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