Dauber and Jackson decide to organize a partnership. Dauber invests $25,000 cash, and Jackson contributes $5,000 and equipment having a book value of $3,500 and a fair market value of $10,000.
Instructions
Prepare the entry to record each partner's investment.

Question

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The Answer of Dauber and Jackson decide to organize a partnership. Dauber invests $25,000 cash, and Jackson contributes $5,000 and equipment having a book value of $3,500 and a fair market value of $10,000.
Instructions
Prepare the entry to record each partner's investment.

Dauber and Jackson Decide to Organize a Partnership