24 Gow and Cubb formed a partnership on March 1 and contributed the following assets Gow-$80,000 cash Cubb- 50,000 Equipment (Fair value) The equipment was subject to a chattel mortgage of $10,000. The partners agreed to share profits and losses equally Cubb's capital account at March 1 should be $45.000. O 40,000.bo 60,000.co 50,000.do