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David and Daniel formed a partnership. David invested $10,000 to cash: Daniel invested $5,000 in cash and equipment valued at $6,000. The proper entry to
David and Daniel formed a partnership. David invested $10,000 to cash: Daniel invested $5,000 in cash and equipment valued at $6,000. The proper entry to record this is which of the following? A. Debit Cash $15,000; debt Equipment $6,000; credit Capital $21,000 B. Debt Cash $15,000, debit Equipment $6,000; credit Accounts Payable $21,000 C. Debit Cash $15,000, debit Equipment $6,000; credit David's Capital $10,000; and credit Daniel's Capital $10,000 D. Debit Cash $15,000, debt Equipment $6,000; credit David's Capital $10,000; and credit Daniel's Capital $11,000
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