Horton invests personally owned equipment, which originally cost $110,000 and has accumulated depreciation of $30,000 in the Horton and Matile partnership. Both partners agree that the fair market value of the equipment was $60,000. The entry made by the partnership to record Horton's investment should be

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The Answer of Horton invests personally owned equipment, which originally cost $110,000 and has accumulated depreciation of $30,000 in the Horton and Matile partnership. Both partners agree that the fair market value of the equipment was $60,000. The entry made by the partnership to record Horton's investment should be

Horton Invests Personally Owned Equipment, Which Originally Cost $110,000 and Has