After the accounts are closed on April 10, prior to liquidating the partnership, the capital accounts of Zach Fairchild, Austin Lowes, and Amber Howard are $27,000, $4,800, and $21,500, respectively. Cash and noncash assets total $7,200 and $53,700, respectively. Amounts owed to creditors total $7,600. The partners share income and losses in the ratio of 1:1:2. Between April 10 and April 30, the noncash assets are sold for $28,500, the partner with the capital deficiency pays the deficiency to the partnership, and the liabilities are pald. Recording Partner's Original Investment Vanessa Kaiser and Mariah Newman decide to form a partnership by combining the assets of their separate businesses. Kaiser contributes the following assets to the partnership: cash, $11,780; accounts receivable with a face amount of s123,690 and an allowance for doubtful accounts of 54,460; merchandise Inventory with a cost of $84,240; and equipment with a cost of $175,300 and accumulated depreciation of $113,950 The partners agree that $5,440 of the accounts receivable are completely worthless and are not to be accepted by the partnership that $9,280 is a reasonable allowance for the uncollectibility of the remaining accounts, that the merchandise inventory is to be recorded at the current market price of $79,190, and that the equipment is to be valued at $77,300. After the accounts are closed on April 10, prior to liquidating the partnership, the capital accounts of Zach Fairchild, Austin Lowes, and Amber Howard are $27,000, $4,800, and $21,500, respectively. Cash and noncash assets total $7,200 and $53,700, respectively. Amounts owed to creditors total $7,600. The partners share income and losses in the ratio of 1:1:2. Between April 10 and April 30, the noncash assets are sold for $28,500, the partner with the capital deficiency pays the deficiency to the partnership, and the liabilities are pald. Recording Partner's Original Investment Vanessa Kaiser and Mariah Newman decide to form a partnership by combining the assets of their separate businesses. Kaiser contributes the following assets to the partnership: cash, $11,780; accounts receivable with a face amount of s123,690 and an allowance for doubtful accounts of 54,460; merchandise Inventory with a cost of $84,240; and equipment with a cost of $175,300 and accumulated depreciation of $113,950 The partners agree that $5,440 of the accounts receivable are completely worthless and are not to be accepted by the partnership that $9,280 is a reasonable allowance for the uncollectibility of the remaining accounts, that the merchandise inventory is to be recorded at the current market price of $79,190, and that the equipment is to be valued at $77,300