Multiple Choice
Sally Smythe enters into a partnership by contributing the following: Cash $15,000;Accounts Receivable $4,500;Machinery which cost $3,000 and has a fair market value of $2,125;and accounts payable of $1,200.What amount will be recorded in her capital account?
A) $21,625
B) $20,425
C) $22,500
D) $21,300
Correct Answer:
Verified
Correct Answer:
Verified
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