Rose and Yana formes a partnership. Rose contributed inventory with a fair market value that is lower than its book value. Yana contributed real estate with fair market value that

Rose and Yana formes a partnership. Rose contributed inventory with a fair market value that is lower than its book value. Yana contributed real estate with fair market value that is higher than its book value. At what amount should the partnership record each of the following assets? Inventory                            Real estate a.                  Book Value                          Book Value b.                  Fair Market Value                Book Value c.                   Book Value                        Fair Market Value d.                  Fair Market Value                Fair Market Value choose the correct answer and explain.

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