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Find the amount to be credited to Collins capital account

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Question - Collins and Farina are forming a partnership. Collins is investing a building that has a fair market value of $70,000. However, the building is subject to a $36,000 mortgage. Farina is investing $20,000 cash. Find the amount to be credited to Collins' capital account?

A. $70,000

B. $34.000

C. $56.000

D. $44,000

Reference no: EM133137261

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