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Verna invested $ 4 0 , 0 0 0 in cash and $ 2 5 , 0 0 0 in equipment. Prepare two journal entries

Verna invested $

40, 000

in cash and $

25, 000

in equipment. Prepare two journal entries to record the

partners' investments in the partnership.

Required: Prepare two journal entries to record the partners' investments in the partnership.

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