Nate is investing in a partnership with Deidre. Nate contributes as part of his initial investment, Accounts Receivable of $60700; an Allowance for Doubtful Accounts of $9400; and $5200 cash. The entry that the partnership makes to record Nate’s initial contribution includes a:
a. Credit to Nate, Capital for $64800.
b. Debit to Allowance for Doubtful Accounts for $8700.
c. Debit to Accounts Receivable for $50800.
d. Credit to Nate, Capital for $56100.
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