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Agnes and Aunt Sue each invested $140,000 cash in the A&S Partnership, and each received...

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Accounting

Agnes and Aunt Sue each invested $140,000 cash in the A&S Partnership, and each received a 50% interest in the partnership. To finance her investment in the partnership, Agnes borrowed $60,000 on a full recourse basis from her partner, Aunt Sue. Which of the following is correct

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