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Prepare journal entries to record each investments

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Question - K. Decker, S. Rosen, and E. Toso are forming a partnership. Decker is transferring $46,700 of personal cash to the partnership. Rosen owns land worth $18,100 and a small building worth $83,300, which she transfers to the partnership. Toso transfers to the partnership cash of $10,800, accounts receivable of $28,900, and equipment worth $21,200. The partnership expects to collect $26,010 of the accounts receivable.

Required - Prepare the journal entries to record each of the partners' investments.

Reference no: EM132594583

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