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Sally Smythe enters into a partnership by contributing the following: Cash $15,700, Accounts Receivable $5.200. Machinery which cost $3,700 and has a fair market value

Sally Smythe enters into a partnership by contributing the following: Cash $15,700, Accounts Receivable $5.200. Machinery which cost $3,700 and has a fair market value of $2.825; and accounts payable of $1,550 What amount will be recorded in her capital account? Multiple Choice $22175 $24.600 $23,725 $23,050

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