Draper and Becker decide to organize a partnership. Draper invests $25,000 cash, and Becker contributes...
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Accounting
Draper and Becker decide to organize a partnership. Draper invests $25,000 cash, and Becker contributes $5,000 and equipment having a book value of $7,000 and a fair value of $15,000. Prepare the entry to record each partners investment. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit ( To record drapper's investment) Account Titles and Explanation Debit Credit ( To record Becker's investment)
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