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Prepare the journal entry to record Juan investment

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Reference no: EM133110085

Question - Juan contributed the following to JM Partnership:

 

Book Value

Agreed Value

Equipment

P900,000.00

P400,000.00

Accumulated Depreciation

620,000

 

Accounts Receivable

360,000.00

85% realizable

Required - Prepare the journal entry to record Juan's investment in the partnership.

Reference no: EM133110085

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