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. J & K are forming a partnership. J is investing a building that has a market value of $ 8 0 , 0 0

.J & K are forming a partnership. J is investing a building that has a market value of $80,000. However, the building carries a $45,000 mortgage that will be assumed by the partnership. K is investing $20,000 cash. Give the journal entry to form the partnership.

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