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Wilson invests cash of $30,000 in the partnership. Jones invests the assets of an existing business. Jones's balance sheet shows $8,000 in cash, $10,000 in accounts receivable, $500 in allowance for uncollectible accounts, $7,000 for other current assets, $15,000 for equipment, $5,000 for accumulated depreciation minus equipment, and $1,000 for accounts payable. The total capital of the partnership will be:

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Wilson invests cash of $30,000 in the partnership. Jones invests the assets of an existing business. Jones's balance sheet shows $8,000 in cash, $10,000 in accounts receivable, $500 in allowance for uncollectible accounts, $7,000 for other current assets, $15,000 for equipment, $5,000 for accumulated depreciation minus equipment, and $1,000 for accounts payable. The total capital of the partnership will be:






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