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E 19-1B (LO2) PARTNERSHIP OPENING ENTRIES Sharon Usher and Leann Gomez agreed...

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Accounting

E 19-1B
(LO2)
PARTNERSHIP OPENING ENTRIES Sharon Usher and Leann Gomez agreed on
September 1 to go into business as partners. According to the agreement, Usher is to
contribute $30,000 cash and Gomez is to contribute $50,000 cash. Provide a separate
journal entry for the investment of each partner.
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