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Sally Smythe enters into a partnership by contributing the following: Cash $14,400; Accounts Receivable $3,900; Machinery which cost $2,400 and has a fair market value

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Sally Smythe enters into a partnership by contributing the following: Cash $14,400; Accounts Receivable $3,900; Machinery which cost $2,400 and has a fair market value of $1,525, and accounts payable of $2,000. What amount will be recorded in her capital account? Multiple Choice $19.825 $17,825 $20,700 $18,700

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