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Culver invests personally owned equipment, which originally cost $224700 and has accumulated depreciation of $59900...

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Question

Accounting

Culver invests personally owned equipment, which originally cost $224700 and has accumulated depreciation of $59900 in the Culver
and Eggers partnership. Both partners agree that the fair value of the equipment was $119700. The entry made by the partnership to
record Culver's investment should be
Equipment
224700
Accumulated Depreciation-Equipment
59900
Culver, Capital
164800
Equipment
Culver, Capital
Equipment
Culver, Capital
Equipment
Los5 on Purchase of Equipment
Accumulated Depreciation-Equipment
Culver, Capital
119700
119700
164800
164800
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