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Prepare journal entries to record the investments

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Question 1: Prepare journal entries to record the investments made by the partners, using the format given in your study' unit on the form provided at the back of this unit. Then complete questions 1 and 2. DO NOT send the form to us.

problem 1. When the investments are recorded on the partnership books, Klein's capital account

will be credited for

Option A. $82,800.

Option B. $49,200.

Option C. $48,500.

Option D. $52,000.

problem 2. The total cash invested by Klein and Manly amounts to

Option A. $89,700.

Option B. $28,000.

Option C. $88,500.

Option D. $19,600.

Reference no: EM132469254

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