ant 116 Second Evaluation Chapter 12 am Valuation Chapter 12 and 13(First Part Take Hom 13. Barton and Fallows form a part accounts receivable with a face amount depreciation of $100,000. The partners agree accounts receivable are completely worthless and lows form a partnership by combining the assets of their separate businesses. Barton contributes ble with a face amount of $50.000 and equipment with a cost of $190,000 and accumulated S100,000. The partners agree that the equipment is to be valued at $85,000, that $3.500 of the eivable are completely worthless and are not to be accepted by the partnership, and that $1,500 is a allowance for the uncollectibility of the remaining accounts receivable. Fallows contributes cash of a merchandise inventory of $55,500. The partners agree that the merchandise inventory is to be 500,000. Journalize the entries to record in the partnership accounts (a) Barton's investment and (b) $28,500 and merchandise inventory on valued at $60,000. Journalize the entries to Fallows's investment