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QUESTION 6 M. Abadie and S. Collier combine their individual sole proprietorships to start the Abadie -Collier partnership. M. Abadie and S. Collier invest

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QUESTION 6 M. Abadie and S. Collier combine their individual sole proprietorships to start the Abadie -Collier partnership. M. Abadie and S. Collier invest in the partnership as follows Cash Accounts Receivable Book Value Fair Value Abadie Collier Abadie Collier $21,000 $6,000 $21,000 $6,000 10,000 5,000 10,000 5,000 Allowance for Doubtful Accounts (1,500) (600) (2,100) (900) Equipment 15,000 24,000 13,500 9,000 Accumulated Depreciation (3,000) (9,000) The entries to record the investment will include a credit to: a. Abadie, Capital of $44,500. b. Abadie, Capital of $42,400. c. Collier, Capital of $28,100. d. Collier, Capital of $26,000. 0.8 poir

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