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Luke, Lando and Leia decide to start a partnership called LLL Consulting on March 1, 2020. Each of them contribute a number of items to

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Luke, Lando and Leia decide to start a partnership called LLL Consulting on March 1, 2020. Each of them contribute a number of items to the partnership, which are listed below. Luke contributed $6,900 cash and a building he had purchased for $272,000. The building now has a market value of $299,200. Lando contributed $3,800 cash, equipment he had purchased for $33,900 and a note payable worth $23,000. The equipment has a market value of $30,510. Leia contributed $7,600 cash, furniture she has purchased for $11,600 and accounts payable worth $7,100. The furniture has a market value of $9,280. Prepare the journal entries to record the contributions of each partner. Do not enter dollar signs or commas in the input boxes. For transactions with more than one debit or credit, enter the accounts in alphabetical order. Date Account Title and Explanation Mar 1 Building Cash Mar 1 Mar 1 Capital, Luke Investment by Luke Equipment Cash Notes Payable Capital, Lando Investment by Lando Furniture Cash Accounts Payable Capital, Leia. 4

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