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Provide the table to record the initial investments

    Assignment Instructions

    Assignment ID: FG132741925

    A and B agreed to form a partnership. A contributed ?40,000 cash while B contributed equipment with fair value of ?100,000. However due to the expertise that A will be bringing to the partnership, the partners agreed that they should initially have an equal interest in the partnership capital.

    Requirement:

    Problem 1: Provide the table and the journal entry to record the initial investments of the partners.

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