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Make journal entries to record each of partners investments

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Question - K. Decker, S. Rosen, and E. Toso are forming a partnership. Decker is transferring $50,250 of personal cash to the partnership. Rosen owns land worth $19,320 and a small building worth $83,220, which she transfers to the partnership. Toso transfers to the partnership cash of $11,030, accounts receivable of $32,540 and equipment worth $15,010. The partnership expects to collect $29,286 of the accounts receivable.

Required - Make the journal entries to record each of the partners' investments.

Reference no: EM132659179

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