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Prepare the entry to record nicholss investment

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Barbara Ripley and Fred Nichols decide to organize the ALL-Star partnership. Ripley invests $15,000 cash, and Nichols contributes $10,000 cash and equipment having a book value of $3,500. Prepare the entry to record Nichols"s investment in the partnership, assuming the equipment has a fair value of $4,000.

Reference no: EM13516816

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