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there are 5 rows Suzy Vopat has owned and operated a proprietorship for several years. On January 1 , she decides to terminate this business
there are 5 rows
Suzy Vopat has owned and operated a proprietorship for several years. On January 1 , she decides to terminate this business and become a partner in the firm of Vopat and Sigma. Vopat's investment in the partnership consists of $11.900 in cash, and the following assets of the proprietorship: accounts receivable $15,000 less allowance for doubtful accounts of $2.500, and equipment $19,700 less accumulated depreciation of $4,300. It is agreed that the allowance for doubtful accounts should be $3,750 for the partnership. The fair value of the equipment is $12,500. Journalize Vopat's admission to the firm of Vopat and Sigma. (Credit account tities are automatically indented when amount is entered. Do not indent manually.) Step by Step Solution
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