Sasha and Michelle form a partnership. Sasha contributes $16,000 cash and merchandise inventory with a current market value of $4,000. While journalizing this transaction:
A) Merchandise Inventory will be credited for $4,000.
B) Merchandise Inventory will be debited for $4,000.
C) Merchandise Inventory will be credited for $2,400.
D) Merchandise Inventory will be debited for $2,400.
Correct Answer:
Verified
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