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scZoUnD [109]
3 years ago
10

Jesse and Tim form a partnership by combining the assets of their separate businesses. Jesse contributes accounts receivable wit

h a face amount of $46,000 and equipment with a cost of $177,000 and accumulated depreciation of $102,000. The partners agree that the equipment is to be valued at $68,400, that $3,300 of the accounts receivable are completely worthless and are not to be accepted by the partnership, and that $2,200 is a reasonable allowance for the uncollectibility of the remaining accounts receivable. Tim contributes cash of $21,500 and merchandise inventory of $45,000. The partners agree that the merchandise inventory is to be valued at $48,500. Required:Journalize the entries to record in the partnership accounts (a) Jesse’s investment and (b) Tim’s investment. Refer to the Chart of Accounts for exact wording of account titles.
Business
1 answer:
anygoal [31]3 years ago
6 0
Ddkhkgakgatkitajaita
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7 0
9 months ago
Oriole Company sells merchandise on account for $7800 to Sunland Company with credit terms of 2/13, n/30. Sunland Company return
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Answer:

a. $6468

Explanation:

Calculation for the amount of the check

Based on the information given we were told that Oriole Company sells merchandise on account for the amount of $7800 to Sunland Company with credit terms of 2/13, n/30 in which Sunland Company returns the amount of $1200 of merchandise that was damaged which means that the amount of the check will be calculated as:

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