Current Attempt in Progress

Barbara Ripley and Fred Nichols decide to organize the ALL$-$Star partnership. Ripley invests $$21,300$ cash, and Nichols contributes

$$20,000$ cash and equipment having a book value of $$4,260.$

Prepare the entry to record Nichols's investment in the partnership, assuming the equipment has a fair value of $$5,680.($Credit account

titles are automatically indented when amount is entered. Do not indent manually.$)$

Account Titles and Explanation

Debit

Credit