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Norr and caylor established a partnership on january 1 2013

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Norr and Caylor established a partnership on January 1, 2013. Norr invested cash of $100,000 and Caylor invested $30,000 in cash and equipment with a book value of $40,000 and fair value of $50,000. Make the journal entry for the investment.

Reference no: EM13576683

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