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Unformatted text preview: partnership would record TLM's 30% interest with the following entry: General Journal Date Account Title and Description Ref. Debit Credit 20X0 Mar. 10 Cash 30,000 TLM, Capital 45,000 Date Account Title and Description Ref. Debit Credit Investment in partnership by TLM...
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- Spring '09
- $15,000, 30%, $30,000, $45,000, initial capital balance