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When Faizah purchases interest in a partnership from Joe (an existing partner) for $12,000, the journal entry would be O debit Faizah Capital; credit Joe,
When Faizah purchases interest in a partnership from Joe (an existing partner) for $12,000, the journal entry would be O debit Faizah Capital; credit Joe, Capital debit Cash, credit Joe, Capital O debit Joe, Capital; credit Faizah, Capital O debit Cash, credit Faizah, Capital
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Principles of Accounting
Authors: Needles, Powers, crosson
11th Edition
1439037744, 978-1133626985, 978-1439037744
