Question
K. Decker, S. Rosen, and E. Toso are forming a partnership. Decker is transferring $50,000 of personal cash to the partnership. Rosen owns land worth
K. Decker, S. Rosen, and E. Toso are forming a partnership. Decker is transferring $50,000 of personal cash to the partnership. Rosen owns land worth $15,000 and a small building worth $80,000, which she transfers to the partnership. Toso transfers to the partnership cash of $9,000, accounts receivable of $33,000, and equipment worth $38,000. The partnership expects to collect $29,000 of the accounts receivable. The entry to record the contribution of Toso will include a:
Select one: a. debit to accounts receivable 29000 b. debit to equipment 38000 c. debit to Toso, capital 76000 d. credit to cash 9000
--------------- I do not want a detailed answer. I just want the final answer as soon as possible. Solve quickly I get you thumbs up directly Thank's Abdul-Rahim Taysir
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