A partner invests into a partnership a building with a $25,000 carrying value and $40,000 fair market value. The related mortgage payable of $12,500 is assumed by the partnership. The entry to record the investment in partnership is:

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The Answer of A partner invests into a partnership a building with a $25,000 carrying value and $40,000 fair market value. The related mortgage payable of $12,500 is assumed by the partnership. The entry to record the investment in partnership is:

A Partner Invests into a Partnership a Building with a $25,000