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M. Anthony and S. Collier combine their individual sole proprietorships to start the Anthony -...

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Accounting

M. Anthony and S. Collier combine their individual sole proprietorships to start the Anthony - Collier partnership. M. Anthony and S. Collier invest in the partnership as follows

Book Value

Fair Value

Anthony

Collier

Anthony

Collier

Cash

 $ 21700 $ 5500 $ 21700 $ 5500

Accounts Receivable

 9300 4100 9300 4100

Allowance for Doubtful Accounts

 ( 1700) ( 680) ( 2120) ( 990)

Equipment

 14100 24700 13900 9100

Accumulated Depreciation

 ( 2200) ( 9000)

The entries to record the investment will include a credit to:

Collier, Capital of $ 17710.

Anthony, Capital of $ 42900.

Anthony, Capital of $ 41200.

Collier, Capital of $ 24310.

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