ACC 250 02/CHAPTER 12 Exercise 12-3 Suzy Vopat has owned and operated a proprietorship for several years. On January 1, she decides to terminate this business and become a partner in the firm of Vopat and Sigma. Vopat's investment in the partnership consists of $12,000 in cash, and the following assets of the proprietorship: accounts receivable $14,000 less allowance for doubtful accounts of $2,000, and equipment $30,000 less accumulated depreciation of $4,000. It is agreed that the allowance for doubtful accounts should be $3,000 for the partnership. The fair value of the equipment is $23,500 ournalize Vopat's admission to the firm of Vopat and Sigma. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Credit Jan. 1 Question Attempts: 0 of 3 used Question Attempts: 0 of 3 used SAVEe ro FS FVO 5 0