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Susan is investing in a partnership with Andy. As part of Susan's initial contribution, she contributes Accounts Receivable of $70,000; an Allowance for Doubtful Accounts

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Susan is investing in a partnership with Andy. As part of Susan's initial contribution, she contributes Accounts Receivable of $70,000; an Allowance for Doubtful Accounts of $5,000; and $10,000 cash. The entry that the partnership makes to record Susan's initial contribution includes a Select one: O Credit to Susan, Capital for $75,000. O Credit to Susan, Capital for $80,000. Debit to Accounts Receivable for $65,000. Debit to Allowance for Doubtful Accounts for $5,000. Previous page Next Page 6 6 0 101

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