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Review the following scenario. Then, choose the response that correctly completes the last sentence. Sarah owns a 50% interest in The Kid's Playroom, a partnership.
Review the following scenario. Then, choose the response that correctly completes the last sentence. Sarah owns a 50\\% interest in The Kid's Playroom, a partnership. She contributed a computer system with a fair market value of \\( \\$ 15,000 \\) and an adjusted basis of \\( \\$ 10,000 \\) to the partnership. Neither Sarah nor the partnership recognized any gain when the property was contributed. As a result of this contribution, Sarah's tax capital account and book capital account balances increase by: Tax account, \\$15,000; book account, \\( \\$ 10,000 \\). Tax account, \\$10,000; book account, \\( \\$ 15,000 \\). Tax account, \\$7,500; book account, \\$5,000. Tax account, \\( \\$ 5,000 \\); book account, \\( \\$ 7,500 \\)
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