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Partnership Accounting
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Partnership Accounting

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@AgreeableHeliotrope5535

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Questions and Answers

If a partner introduces capital, which account should not be debited?

  • Cash account (correct)
  • Equity account
  • Current account
  • Capital account
  • When capital is introduced by the partner, which account should be debited?

  • Equity account
  • Capital account (correct)
  • Current account
  • Cash account
  • Where should the partner's introduced capital be recorded?

  • Current account
  • Equity account
  • Cash account
  • Capital account (correct)
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