Nate is investing in a partnership with David. Nate contributes as part of his initial investment, Accounts Receivable of $60,000; an Allowance for Doubtful Accounts of $9,000; and $6,000 cash. The entry that the partnership makes to record Nate's initial contribution includes a a. debit to Allowance for Doubtful Accounts for $9,000 b. credit to Nate, Capital for $57,000 c. debit to Accounts Receivable for $51,000 d. credit to Nate, Capital for $66,000.

CREDIT to Nate capital for $57000 ( B )

Explanation:

NATE  contributions

accounts receivables = $60000

allowance for doubtful accounts = $9000 ( FOR DEBTORS )

cash = $6000

therefore the entry the partnership makes to record Nate's initial contribution includes = ACCOUNTS RECEIVABLE + CASH - allowance for doubtful accounts

= 60000 + 6000 - 9000 = $57000

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