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Practice Brief Exercise 1 Barbara Ripley and Fred Nichols decide to organize the ALL-Star partnership....

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Accounting

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Practice Brief Exercise 1 Barbara Ripley and Fred Nichols decide to organize the ALL-Star partnership. Ripley invests $22,200 cash, and Nichols contributes $14,000 cash and equipment having a book value of $4,736. Prepare the entry to record Nichols's Investment in the partnership, assuming the equipment has a fair value of $5,920. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Click if you would like to Show Work for this question: Modify Show Work Please save your Whiteboard work as an image and send to your instructor outside of WileyPLUS. LENK TO TEXT

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