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Patti and pam are forming a partnership patti will invest a

Question - Patti and Pam are forming a partnership. Patti will invest a piece of equipment with a book value of $6,068 and a fair market value of $11,522. Pam will invest a building with a book value of $39,286 and a fair market value of $75,432.

At what amount will the building be recorded?

a. $39,286

b. $11,522

c. $6,068

d. $75,432

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Accounting Basics: Patti and pam are forming a partnership patti will invest a

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