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Mace and Bowen are partners and share equally in income or loss. Mace's current capital balance is $135,000 and Bowen's is $120,000. Mace and Bowen agree to accept Kent with a 30% interest in the partnership. Kent invests $115,000 in the partnership.
- The amount credited to Kent's capital account is:
Cashier's Check
A check guaranteed by a bank, drawn on the bank's own funds and signed by a cashier.
Non-Strategic View
An approach or perspective that does not involve long-term planning or consider the competitive positioning within a particular industry or market.
Terms of Agreement
Clauses and conditions outlined in a contract that specify the obligations, rights, and duties of the parties involved.
Outside Options
Alternatives available to negotiating parties outside of the current negotiation or deal, affecting their bargaining power.
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