Question: On June 11, Issac contributed $7,500 for a 20% interest in the general partnership, Abe's Bagels. The partnershis loan for $19,000 on August 1.

On June 11, Issac contributed $7,500 for a 20% interest in the general partnership, Abe's Bagels. The partnershis loan for $19,000 on August 1. Issac's distributive share for the year was $4,200. What is his ending basis for the partnership? $7,500 $11,700 $15,500 O $30,700

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