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Barbara Ripley and Fred Nichols decide to organize the ALL-STAR partnership. Ripley invests $18,300 cash, and Nichols contributes $18,000 cash and equipment having a book

Barbara Ripley and Fred Nichols decide to organize the ALL-STAR partnership. Ripley invests $18,300 cash, and Nichols contributes $18,000 cash and equipment having a book value of $3,904.

Prepare the entry to record Nicholas's investment in the partnership, assuming the equipment has a fair value of $4,880

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