Brandi Bonds and Sam Stakes form a partnership by combining assets of their former businesses. The following balance sheet information is provided by Bonds, sole proprietorship:

Bonds obtained appraised values for the land and equipment as follows:
Land ................................ $250,000
Equipment .......................... 21,000
An analysis of the accounts receivable indicated that the allowance for doubtful accounts should be increased to $6,000.
Journalize the partnership's entry for Bonds's investment.

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$ 40,000 Cash Accounts receivable $75.000 4,100 $70,000 43.000 Less: Allowance for doubtful accounts 70,900 Equipment Less: Accumulated depreciation-equipment Land 27.000 180.000 Total assets $317,900 $ 22,500 Accounts payable Notes payable Brandi Bonds, capital 65.000 230,400 Total liabilities and owner's equity $317,900