Question: I need help with this cengage 27th edition question. Thank you. instructions Kimberly Payne and Arionna Maples decide to form a partnership by combining 'the

instructions Kimberly Payne and Arionna Maples decide to form a partnership bycombining 'the assets of their separate businesses. Payne contributes the following assetsto the partnerships. cash, $25,230; accounts receivable with a face amount of$150,960 and an allowance for doubtful accounts of $3,970; merchandise inventory witha cost of $89,120; and equipment with a cost of $138,820 and

I need help with this cengage 27th edition question. Thank you.

accumulated depreciation of $41,460! The partners agree that $5,620 of the accountsreceivable are completely wort less! fre to b? accepted by: the partnership,that $5,240 is a reasonable Be; rfe8rdie40the{crrent mat'ket price of $103,020, andthat the allowance for the uncollectibility of the remaining accounts, thatthe mercaoaise'in 'ent equipment is to be valued at $91,740. On December 1,

instructions Kimberly Payne and Arionna Maples decide to form a partnership by combining 'the assets of their separate businesses. Payne contributes the following assets to the partnerships. cash, $25,230; accounts receivable with a face amount of $150,960 and an allowance for doubtful accounts of $3,970; merchandise inventory with a cost of $89,120; and equipment with a cost of $138,820 and accumulated depreciation of $41,460! The partners agree that $5,620 of the accounts receivable are completely wort less! fre to b? accepted by: the partnership, that $5,240 is a reasonable Be; rfe8rdie40the{crrent mat'ket price of $103,020, and that the allowance for the uncollectibility of the remaining accounts, thatthe mercaoaise 'in 'ent equipment is to be valued at $91,740. On December 1, journalize the partnership's entry to record Payne's investment Refri Ch 2 more Check My Work uses remaining. t'din Ernal -Instructor Save and Exit Next Submit Assignment for Grading Pr Ai Fz

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