Marquis and Bose Agree to Accept Sherman into Their Partnership

question 82

Essay

Marquis and Bose agree to accept Sherman into their partnership. Sherman will contribute $25,000 in cash. Prepare the journal entry to record this transaction.

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Definitions:

Sample

A portion of the overall population picked for conducting studies or inquiries in order to collect demographic data.

Frequency Polygon

A graphical representation of the distribution of a dataset that shows how often each value occurs, connecting each data point by straight lines.

Frequency Distribution

A summarization of data by reporting the number of observations that fall within each range or bin of values for a specific variable.

Pie Graph

A circular chart divided into sectors, each sector shows the relative size of each value to the total.