O & P form a partnership on January 1 and agrees to share profit and loss in the ration of 5/4.Each partner contributes $75,000 of cash.The cash account would be:
A) Debited for $75,000
B) Debited for $150,000
C) Debited for $83,333
D) Debited for $33,333
Correct Answer:
Verified
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