Sandra and Kelsey are forming a partnership. Sandra will invest a piece of equipment with...
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Sandra and Kelsey are forming a partnership. Sandra will invest a piece of equipment with a book value of $6,100 and a fair market value of $14,600. Kelsey will invest a building with a book value of $47,500 and a fair market value of $75,400. What amount will be recorded to Kelsey's capital account?
a.$6,100
b.$14,600
c.$75,400
d.$47,500
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