Abel \& Baker agree to form a real estate partnership. Abel contributes $50,000 cash and computer equipment valued at $60,000 and a note payable on the equipment for $40,000; the equipment originally cost $85,000. Baker contributes cash of $45,000 and Building that cost $72,000 and a mortgage on the building of $60,000; the building has a FMV of $92,000. Abel and Baker will shate profits and losses in the ratio of 1:3. Abel \& Baker agree to form a real estate partnership. Abel contributes $50,000 cash and computer equipment valued at $60,000 and a note payable on the oquipment for $40,000; the equipment originally cost $85,000. Baker contributes cash of $45,000 and Building that cost $72,000 and a mortgage on the building of $60,000; the building has a FMV of $92,000. Abel and Baker will shate profits and losses in the ratio of 1:3. REQUIRED: Record the Joumal Entry(s) for the formation of the partnership