1. On January 1, 20x1, Mr. A and Ms. B formed a partnership. Mr. A contributed cash of P500,000 while Ms. B contributed a building with carrying amount of P400,000 and fair value of P800,000. The building has an unpaid mortgage of P200,000 which is not assumed by the partnership. Requirement: Provide the journal entry to record the contributions of the partners. 2. A and B formed a partnership. The following are their contributions: B Cash 500,000 Accounts receivable 100,000 Building 700,000 Total 600,000 700,000 A capital 600,000 B, capital 700,000 Total 600,000 700,000 Additional information: The accounts receivable includes a P20,000 account that is deemed uncollectible. The building is over-depreciated by P50,000 The building has an unpaid mortgage P100,000, which is assumed by the partnership. Requirement: Provide the journal entry to record the contributions of the partners in the partnership books. 3. A and B agreed to form a partnership. A contributed P40,000 cash while B contributed equipment with fair value of P100,000. However due to the expertise that A will be bringing to the partnership, the partners agreed that they should initially have an equal interest in the partnership capital. Requirement: Provide the journal entry to record the initial investments of the partners