Advanced Placement (AP), 29.04.2021 16:30 rhettnyah
Bloom and Plant organize a partnership on January 1. Bloom's initial investment consists of $300 cash, $1,200 equipment and a $500 note payable reflecting a bank loan for the new business. Plant's initial investment is cash of $1,000. These amounts are the values agreed on by both partners. The journal entry to record Bloom's investment is:
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Bloom and Plant organize a partnership on January 1. Bloom's initial investment consists of $300 cas...
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