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Richard Redden contributed $75,000 in cash and land worth $140,000 to open a new business, RR Consulting. Which of the following general journal entries will
Richard Redden contributed $75,000 in cash and land worth $140,000 to open a new business, RR Consulting. Which of the following general journal entries will RR Consulting make to record this transaction? Debit assets $215,000; Credit Redden, Capital $215,000. Debit Cash and Land, $215,000; Credit Redden, Capital $215,000. Debit cash $75,000; debit land $140,000; Credit Redden, Capital $215,000. Debit Redden, Capital $215,000; credit cash $75,000; credit land $140,000. Debit Redden, Capital $215,000; credit assets $215,000.
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