Dave Krug contributed $$2,600$ cash along with inventory and land to a new partnership. The inventory had a market value of $$5,200.$ The land had a market value of $$8,200.$ The partnership also accepted a $$4,600$ note payable owed by Krug to a creditor.

Prepare the partnership's journal entry to record Krug's investment.

Journal entry worksheet

A

Record the investment of Krug.

Note: Enter debits before credits.

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