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Mike Derr and Mark Finger form a partnership. Derr contributes the following items (at market value). Prepare the partnerships journal entry to record Derrs investment.

Cash$ 1,000Equipment$ 5,000Accounts payable$ 4,500Supplies3,000Land8,000Notes payable3,100

Record investment of Derr.

Note: Enter debits before credits.

TransactionGeneral JournalDebitCredit1

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