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As part of the initial investment, Jackson contributes accounts receivable that had a balance of...

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Accounting

As part of the initial investment, Jackson contributes accounts receivable that had a balance of $42,018 in the accounts of a sole proprietorship. Of this amount, $1,487 is deemed completely worthless. For the remaining accounts, the partnership will establish a provision for possible future uncollectible accounts of $786. The amount debited to Accounts Receivable for the new partnership is

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