15. Khalid, Said, and Hanaa are forming a partnership.

Khalid is transferring $100,000 of personal cash to the partnership.

Said owns land worth $30,000 and a small building worth $160,000, which he transfers to the partnership.

Hanaa transfers to the partnership cash of $18,000, accounts receivable of $64,000 and equipment worth $38,000.

The partnership expects to collect $58,000 of the accounts receivable.

Instructions

Prepare the journal entries to record each of the partners investments.