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Instructions (:1) Prepare separate journal entries to record the transfer of each proprietorship's assets and liabilities to the partnership. (b) Journalize the additional cash investment

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Instructions (:1) Prepare separate journal entries to record the transfer of each proprietorship's assets and liabilities to the partnership. (b) Journalize the additional cash investment by each partner. (c) Prepare a classied balance sheet for the partnership on January 1, 2012

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