Sasha and Michelle form a partnership.Sasha contributes $19,000 cash and inventory with a current market value of $4000.While journalising this transaction:
A)Inventory will be debited for $4000.
B)Inventory will be credited for $2400.
C)Inventory will be credited for $4000.
D)Inventory will be debited for $2400.

Question

Quizplus · Accepted Answer

The Answer of Sasha and Michelle form a partnership.Sasha contributes $19,000 cash and inventory with a current market value of $4000.While journalising this transaction:
A)Inventory will be debited for $4000.
B)Inventory will be credited for $2400.
C)Inventory will be credited for $4000.
D)Inventory will be debited for $2400.

Sasha and Michelle Form a Partnership