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QUESTION 2 Jay has a capital balance of $42,000 after adjusting the assets to fair market value. Bob contributes $22,000 to receive a 30% interest

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QUESTION 2 Jay has a capital balance of $42,000 after adjusting the assets to fair market value. Bob contributes $22,000 to receive a 30% interest in the new partnership. The bonus paid by Bob is $2.800. True False

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