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    Prepare the journal entries to record each partner's investment in the new partnership

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    Sierra and Jenson formed a partnership. Sierra contributed $25,000 cash and accounts receivable worth $11,000. Jenson's investment included cash $5,000; inventory, $18,000; and supplies, $$1,000.

    Prepare the journal entries to record each partner's investment in the new partnership.

    Can you help me get started with this project?

    © BrainMass Inc. brainmass.com March 4, 2021, 7:53 pm ad1c9bdddf
    https://brainmass.com/business/the-accounting-cycle/journal-entries-record-each-partners-investment-129302

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    1) Cash Dr. 25000
    Accounts ...

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    The expert prepares the journal entries to record each partner's investment in new partnerships.

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