Bob is investing in a partnership with Andy. Bob contributes as part of his initial...
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Accounting
Bob is investing in a partnership with Andy. Bob contributes as part of his initial investment, Accounts Receivable of $120,000; an Allowance for Doubtful Accounts of $18,000; and $12,000 cash. The entry that the partnership makes to record Bob's initial contribution includes a
A. CREDIT TO BOB CAPITAL $132,000
B. DEBIT TO ACCOUNTS RECIVABLE $102,000
C. CREDIT TO BOB CAPITAL $114,000
D. DEBIT TO ALLOWANCE FOR DOUBTFUL ACCOUNTS $18,000
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