7. Homer Davis and Jack Rivera are forming a partnership to develop a golf course. Davis contributes cash of 51,300,000 and land with a current market value of $9,200,000. When Davis purchased the land in 2012, it cost $7,600,000. Rivera contributes cash of $3,600,000 and equipment with a current market value of $750,000. Journalize the partnership's receipt of assets from Davis and Rivera. (Record debits frst, then credits. Select the explanaton on the last Ine of the journal antry table.) Start by joumalizing the partnership's receipt of assets from Davis