Adam and Lisa decided to establish an AL partnership. Adam contributed cash of $8,000, Accounts Receivable (net) $60,000, and a Delivery Truck with a cost of $40,000 and accumulated depreciation of $10,000. Lisa contributed cash of $10,000, Equipment with a cost of $50,000, Accounts Payable amounting to $5,000, and Land with a cost of $30,000. Adam and Lisa mutually agreed that the fair market value of the Delivery Truck is $35,000, and the fair market value of the Equipment is $55,000. Required: Record the formation of the partnership Calculate the total assets of the partnership