Draper and Becker decide to organize a partnership. Draper invests $25,000 cash, and Becker contributes $5,000 and

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Draper and Becker decide to organize a partnership. Draper invests $25,000 cash, and Becker contributes $5,000 and equipment having a book value of $7,000 and a fair value of $15,000. Prepare the entry to record each partner's investment. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit (To record draper's investment) Account Titles and Explanation Debit Credit (To record Becker's investment)
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Accounting Principles

ISBN: 978-0470533475

9th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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