Asked by tracy
partner investments, journal entries. The LP partnership was formed on January 1,19X7, by investments from bill levy and marv parcells. levy contributed $30,000 cash and 80,000 of land. Parcells contributed cash of $50,000 and equipment with a value of $20,000. prepare the journal entries needed to record the investments of levy and parcells
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Levy contributed $30,000 cash and $80,000 of land. Parcells contributed cash of $50,000 and equipment with a value of $20,000
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