Melissa Myers and Hugo Hernandez form a partnership by combining assets of their former businesses. The following balance sheet information is provided by Myers, sole proprietorship:

Myers obtained appraised values for the land and equipment as follows:
Land ........................................ $300,000
Equipment .................................... 32,700
An analysis of the accounts receivable indicated that the allowance for doubtful accounts should be increased to $9,200.
Journalize the partnership's entry for Myers' investment?

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Cash Accounts receivable Less: Allowance for doubtful accounts Land Equipment Less: Accumulated depreciatio Total assets Accounts payable Notes payable Melissa Myers, capital Total liabilities and owner's equity 75,000 $135,000 7,200 127,800 215,000 78,000 41,000 37,000 $454,800 $ 24,800 84,000 346,000 $454,800