Admitting New Pat Brian Caldwell and Adriana Estrade have operated a successful fem for many years, sharing net income and pet losses really, Kris Mays is so be admined to the partnership on September 1 of the cument year in accordance with the following agreement Assets and liabilities of the old partnership are to be valued at their book values as of August 31. capt for the following 1. Accounts receivable amounting to $3.000 be written aff, and the allowance for doubtful accounts 2. Merchandise inventory is to be valued at $76.300 3. Equipment is to be valued at $169.900. b. Mays is to purchase $72.000 of the ownership interest of Extrade for $78.000 cash and to contribute another $39.000 cash to the partnership for a total ownership equity of $111.000 The post-closing trial balance of Caldwell and Estrada as of August 31 is as follo Caldwell and Estrada Post-Closing Trial Balance August 31, 201 Debit Balances Credit Balances Cash Aunts Receivable Alowance for Doubul Accou Merchand Inventory 7.400 46.400 1000 71.300 2.400 Freed Inpurance fopment 197,000 61.100 Aumulated Depreciation-me 12.500 Accounts Payable Notes Payable (current) $7.500 106.000 Brian Caldwell Capital 94.000 Adriana Ereda, Capital 224.900 324.900