Juan contributes marketable securities to a partnership. The book value of the securities is $7,000 and they
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Juan contributes marketable securities to a partnership. The book value of the securities is $7,000 and they have a current market value of $10,000. What amount should the partnership record in Juan’s Capital account due to this contribution?
A. $10,000
B. $7,000
C. $3,000
D. None of the above
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Related Book For 
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
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