Draper and Becker decide to organize a partnership. Draper invests $25000 cash and Becker contributes $5000 and equipment having a book value of $7000 and a fair value of $15000.
Instructions
Prepare the entry to record each partner's investment.

Question

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The Answer of Draper and Becker decide to organize a partnership. Draper invests $25000 cash and Becker contributes $5000 and equipment having a book value of $7000 and a fair value of $15000.
Instructions
Prepare the entry to record each partner's investment.

Draper and Becker Decide to Organize a Partnership