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The post-closing trial balances of two proprietorships on January 1,2022 , are presented below. orensen and Lucas decide to form a partnership, Crane Company, with

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The post-closing trial balances of two proprietorships on January 1,2022 , are presented below. orensen and Lucas decide to form a partnership, Crane Company, with the following agreed upon valuations for noncash assets. Il cash will be transferred to the partnership, and the partnership will assume all the liabilities of the two proprietorships

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