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Partners A and B invested cash of $50,000 and equipment worth $75,000 respectively. Partner C transferred land worth $180,000 along with the related $100,000 note

Partners A and B invested cash of $50,000 and equipment worth $75,000 respectively. Partner C transferred land worth $180,000 along with the related $100,000 note payable to the partnership. a) Prepare Journal entries b) Calculate the total equity for Partners A,B and C.

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