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On January 1, 2020, Steve Furlong and Mark Pippy agreed to pool their assets and form a partnership called F&P Computing. They agree to share
On January 1, 2020, Steve Furlong and Mark Pippy agreed to pool their assets and form a partnership called F&P Computing. They agree to share all profits equally. Pippy invested cash of $10,000 and furniture for $24,000. Furlong invested cash of $24,000 and furniture of $29,000.Journalize the initial contributions to the partnership by Furlong and Pippy on January 1, 2020
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