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Journalizing Partners Original Investment Austin Fisher contributed land, Inventory, and $21,000 cash to a partnership. The
sh to a partnership. The land had a book value of $73,000 and a market value of $131,000. The inventory had a book value of $
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Austin Fisher contributed land, inventory, and $21,000 cash to a partnership. The land had assumed a $53,000 note payable owe
Austin Fisher contributed land, inventory, and $21,000 cash to a partnershi assumed a $53,000 note payable owed by Fisher tha
assumed a $53,000 note payable owed by Fisher that was used originally to purchase the lan Required: Provide the journal entr
Required: Provide the journal entry for Fishers contribution to the partnership. If an amount box does Accounts Receivable C
Accounts Payable Cash Inventory Land Austin Fisher, Drawing Austin Fisher, Capital
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Cash $       21,000
Inventory $       65,800
Land $     131,000
     Notes Payable $       53,000
     Austin Fisher, Capital $     164,800
(To record Entry should be made on realisable basis)
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