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Peters and Chong are partners and share equally in income or loss. Peters' current capital balance is $290,000 and Chong's is $280,000. Peters and Chong
Peters and Chong are partners and share equally in income or loss. Peters' current capital balance is $290,000 and Chong's is $280,000. Peters and Chong agree to accept Aaron with a 30% interest in the partnership. Aaron invests $258,000 in the partnership. The amount credited to Aaron's capital account is:
$248,400.
$258,000.
$548,000.
$268,000.
$164,400.
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