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Sally Smythe enters into a partnership by contributing the following: Cash $14,500; Accounts Receivable $4,000, Machinery which cost $2,500 and has a fair market value
Sally Smythe enters into a partnership by contributing the following: Cash $14,500; Accounts Receivable $4,000, Machinery which cost $2,500 and has a fair market value of $1,625, and accounts payable of $1,950. What amount will be recorded in her capital account? Multiple Choice $19,050 $20,125 $18,175 $21,000
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