Use the information below to answer the questions that follow. Isis and Kelsey are forming...
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Accounting
Use the information below to answer the questions that follow. Isis and Kelsey are forming a partnership. Isis will invest a piece of equipment with a book value of $7,500 and a fair market value of $18,000. Kelsey will invest a building with a book value of $40,000 and a fair market value of $44,000. What amount will be recorded to Isis's capital account?
a. $25,500
b. $7,500
c. $10,500
d. $18,000
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