Nate Is Investing in a Partnership with Deidre

Multiple Choice

Nate is investing in a partnership with Deidre. Nate contributes as part of his initial investment Accounts Receivable of $60000; an Allowance for Doubtful Accounts of $9000; and $6000 cash. The entry that the partnership makes to record Nate's initial contribution includes a

A) credit to Nate Capital for $66000.
B) debit to Accounts Receivable for $51000.
C) credit to Nate Capital for $57000.
D) debit to Allowance for Doubtful Accounts for $9000.