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Badger and Fox are forming a partnership. Badger invests a building that has a market value of $358,000; the partnership assumes responsibility for a $129,000 note secured by a mortgage on the property. Fox invests $104,000 in cash and equipment that has a market value of $79,000. For the partnership, the amounts recorded for the building and for Badger's Capital account are:
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Badger and Fox are forming a partnership. Badger invests a building that has a market value of $358,...
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