Stevie Lewis and Mack Young are forming a partnership to develop a golf...
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Stevie Lewis and Mack Young are forming a partnership to develop a golf course. Lewis contributes cash of $ and land with a current market value of $ When Lewis purchased the land in it cost $ Young contributes cash of $ and equipment with a current market value of $ Journalize the partnership's receipt of assets from Lewis and Young. Record debits first, then credits. Select the explanation on the last line of the journal entry table.
Start by journalizing the partnership's receipt of assets from Lewis.
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