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Question 10 1 pts Tia and Monica formed a partnership after working separately as sole traders in the same industry. Tia contributed cash of $500,
Question 10 1 pts Tia and Monica formed a partnership after working separately as sole traders in the same industry. Tia contributed cash of $500, an overdraft of $200 and equipment which she purchased for $120 now with accumulated depreciation of $30 and a fair value of $100. Monica contributed cash of $450, land with a fair value of $200 and purchased at $250, and the partnership assumed her accounts receivable of $30. What is Tia's capital account balance? $600 $400 $500 O $680
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