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Nate is investing in a partnership with Deidre. Nate contributes as part of his initial investment, Accounts Receivable of $60100; an Allowance for Doubtful
Nate is investing in a partnership with Deidre. Nate contributes as part of his initial investment, Accounts Receivable of $60100; an Allowance for Doubtful Accounts of $9700; and $5900 cash. The entry that the partnership makes to record Nate's initial contribution includes a O credit to Nate, Capital for $56300. O debit to Accounts Receivable for $50400. O debit to Allowance for Doubtful Accounts for $9700. O credit to Nate, Capital for $66000.
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