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Question(s) / Instruction(s):

Anita Kroll and Aaron Rogers organize a partnership on January 1. Kroll's initial net investment is $92,000, consisting of cash ($32,000), equipment ($73,000), and a note payable reflecting a bank loan for the new business ($13,000). Rogers's initial investment is cash of $29,000. These amounts are the values agreed on by both partners.

 Required:

(1)          Prepare journal entries to record Kroll's investment.

 (2)         Prepare journal entries to record Rogers's investment. 

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