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    Fundamental Accounting Principles Study Set 5
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    Exam 12: Accounting for Partnerships
  5. Question
    Marquis and Bose Agree to Accept Sherman into Their Partnership
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Marquis and Bose Agree to Accept Sherman into Their Partnership

Question 82

Question 82

Essay

Marquis and Bose agree to accept Sherman into their partnership. Sherman will contribute $25,000 in cash. Prepare the journal entry to record this transaction.

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