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Len Peters and Beau Silver form a partnership to operate a catering business, called A Catered Affair. Peters invests $40,000 cash and Silver invests $50,000

Len Peters and Beau Silver form a partnership to operate a catering business, called A Catered Affair. Peters invests $40,000 cash and Silver invests $50,000 cash on March 1,2017. Prepare the journal entry to record the establishment of the partnership.

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