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Business, 18.09.2019 08:00 Chapo3760

Terry, nick, and frank are forming the doctor partnership. terry is transferring $30,100 of personal cash and equipment worth $25,100 to the partnership. nick owns land worth $17,600 and a small building worth $75,100, which he transfers to the partnership. there is a long-term mortgage of $19,900 on the land and building, which the partnership assumes. frank transfers cash of $7,100, accounts receivable of $36,300, supplies worth $3,600, and equipment worth $22,100 to the partnership. the partnership expects to collect $31,300 of the accounts receivable.

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Terry, nick, and frank are forming the doctor partnership. terry is transferring $30,100 of personal...
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