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Prepare the opening journal entries in books of partnership

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Question - Quino will invest cash equal to Espanol's investment after revaluation. The agreed values are as follows: accounts receivable (net), P140,000; inventory, P460,000; and equipment (net), P124,000, The partnership will operate under the business name of Fish R Us. Prepare the opening journal entries in the books of the partnership.

Reference no: EM133140131

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