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Sasha and Michelle Form a Partnership

Question 61

Multiple Choice

Sasha and Michelle form a partnership.Sasha contributes $19,000 cash and inventory with a current market value of $4000.While journalising this transaction:


A) Inventory will be debited for $4000.
B) Inventory will be credited for $2400.
C) Inventory will be credited for $4000.
D) Inventory will be debited for $2400.

Correct Answer:

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