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Use the information below to answer the question that follow. Sandra and Kelsey are forming a partnership. Sandra will invest a piece of equipment with
Use the information below to answer the question that follow. Sandra and Kelsey are forming a partnership. Sandra will invest a piece of equipment with a book value of $6,800 and a fair market value of $15,000. Kelsey will invest a building with a book value of $36,600 and a fair market value of $78,300. What amount will be recorded to Kelsey's capital account?
a. $36,600 b. $6,800 c. $15,000 d. $78,300
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