Douglas's capital account should have a credit balance of

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter15: Partnership Accounting
Section: Chapter Questions
Problem 6MC: Juan contributes marketable securities to a partnership. The book value of the securities is $7,000...
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Douglas pays Selena $42,600 for her 27% interest in a partnership with net assets of $126,700. Following this transaction, Douglas's capital account should have a credit balance of

a.$126,700
b.$11,502
c.$42,600
d.$34,209
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