The partnership of Abel and Caine was formed on February 28,2017.At that date the following assets were invested: The building is subject to a mortgage loan of $280,000,which is to be assumed by the partnership.The partnership agreement provides that Abel and Caine share profits or losses 30% and 70%,respectively.Caine's capital account at February 28,2017,should be

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The partnership of Abel and Caine was formed on February 28,2017.At that date the following assets were invested:  The building is subject to a mortgage loan of $280,000,which is to be assumed by the partnership.The partnership agreement provides that Abel and Caine share profits or losses 30% and 70%,respectively.Caine's capital account at February 28,2017,should be

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The Answer of The partnership of Abel and Caine was formed on February 28,2017.At that date the following assets were invested:  The building is subject to a mortgage loan of $280,000,which is to be assumed by the partnership.The partnership agreement provides that Abel and Caine share profits or losses 30% and 70%,respectively.Caine's capital account at February 28,2017,should be

The Partnership of Abel and Caine Was Formed on February