#12 James and Laura are forming a partnership. James will invest a truck with a book value of $10.000 and a fair market value of $14,000 Laura will invest a building with a book value of $30,000 and a fair market value of $42.000 with a mortgage of $15,000 Answer the following questions: 1. At what amount should the building be recorded? 2. What amount should be recorded in Laura's capital account? 3 What amount should be recorded in James' capital account