Moss and Barber organize a partnership on January 1. Moss's initial net investment is $77,000,...
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Moss and Barber organize a partnership on January 1. Moss's initial net investment is $77,000, consisting of cash ($26,000), equipment ($70,000), and a note payable reflecting a bank loan for the new business ($19,000). Barber's initial investment is cash of $37,000. Prepare journal entries to record (1) Moss's investment and (2) Barber's investment. Journal entry worksheet Note: Enter debits before credits. Moss and Barber organize a partnership on January 1. Moss's initial net investment is $77,000, consisting of cash ( $26,000 ), equipment $70,000), and a note payable reflecting a bank loan for the new business ($19,000). Barber's initial investment is cash of $37,000. Prepare journal entries to record (1) Moss's investment and (2) Barber's investment. Journal entry worksheet Note: Enter debits before credits
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Moss and Barber organize a partnership on January 1. Moss's initial net investment is $77,000, consisting of cash ($26,000), equipment ($70,000), and a note payable reflecting a bank loan for the new business ($19,000). Barber's initial investment is cash of $37,000. Prepare journal entries to record (1) Moss's investment and (2) Barber's investment. Journal entry worksheet Note: Enter debits before credits. Moss and Barber organize a partnership on January 1. Moss's initial net investment is $77,000, consisting of cash ( $26,000 ), equipment $70,000), and a note payable reflecting a bank loan for the new business ($19,000). Barber's initial investment is cash of $37,000. Prepare journal entries to record (1) Moss's investment and (2) Barber's investment. Journal entry worksheet Note: Enter debits before credits 