For partnership-amounts recorded for capital account

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Reference no: EM13906047

Badger and Fox are forming a partnership. Badger invests a building that has a market value of $352,000; the partnership assumes responsibility for a $126,000 note secured by a mortgage on the property. Fox invests $101,000 in cash and equipment that has a market value of $76,000. For the partnership, the amounts recorded for Badger's Capital account and for Fox's Capital account are:

Reference no: EM13906047

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