Question: Bobby Chew and Ronald Flynn enter into a partnership On

Bobby Chew and Ronald Flynn enter into a partnership. On July 1, 201X, Bobby invests $7,500 cash in the partnership. Ronald invests $4,100 cash and store equipment worth $6,200 with accumulated depreciation of $2,700.
The equipment has a current appraised value of $9,300. Prepare a journal entry to record this transaction.


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  • CreatedApril 24, 2014
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