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Tim and Michelle have decided to form a partnership with a 60/40 partnership interest ratio....

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Question

Accounting

Tim and Michelle have decided to form a partnership with a 60/40 partnership interest ratio. Tim contributes $7,500 cash and $1,500 in merchandise inventory. While journalizing this transaction ________.

A.

Tim, Capital will be debited for $6,000 and Michelle, Capital will be debited for $4,500

B.

Tim, Capital will be credited for $9,000

C.

Tim, Capital will be debited for $9,000

D.

Tim, Capital will be credited for $6,000 and Michelle, Capital will be credited for $4,500

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