On March 1. Wilma A. Strover, Larry J. Martin, and Roberta R. Dawson form a partnership to conduct a retail business. The partnership agreement provides for the following contributions by the partners:

(1) Wilma A. Strover, who has been conducting a retail business as a sole proprietor, is to turn over all the assets of her business except the cash to the partnership and the partnership is to assume all its liabilities. The store's condensed balance sheet at February 28 showed the following assets and liabilities:

\section*{Assets:}

Cash, \(\$ 8,000\)

Accounts Receivable, \(\$ 7,600\)

Merchandise, \(\$ 30,200\)

Store Furniture and Fixtures (net), \(\$ 7,800\)

\section*{Liabilities:}

Accounts Payable, \(\$ 3,800\).

The partners agree that an allowance for uncollectible accounts of \(\$ 1,000\) should be set up for the receivables and that the store furniture and fixtures should be valued at \(\$ 7,000\).

(2) Larry J. Martin is to contribute a delivery truck valued at \(\$ 3,000\), his 6 -month, 8 -percent note for \(\$ 10,000\), and cash of \(\$ 7,000\).

(3) Roberta R. Dawson is to contribute \(\$ 16,000\) in cash and office equipment valued at \(\$ 4,000\).

All capital contributions are made as set forth in the partnership agreement.

a Prepare journal entries for Strover's books to show her investment in the partnership.

b Prepare journal entries for the partners' contributions on the new set of books that is opened for the partnership.

c Present a balance sheet of the partnership on March 1, after the contributions have been made.