Assi book ORION Downloadable eTextbook ment 06121 PM / Remaining 78 min. Question 8 Terry, Nick, and Frank are forming The Wildhorse Partnership. Terry is transferring $30,100 of personal cash and equipment worth $25,100 to the partnership. Nick owns land worth $17,600 and a small building worth $75, 100, which he transfers to the partnership. There is a long-term mortgage of $19,900 on the land and building, which the partnership assumes. Frank transfers cash of $7,100, accounts receivable of $36,300, supplies worth $3,600, and equipment worth $22,100 to the partnership. The partnership expects to collect $31,300 of the accounts receivable. Prepare a classified balance sheet for the partnership after the partners' investments on December 31, 2020. (List current assets in order of liquidity. List Property, Plant and Equipment in order of Land, Buildings and Equipment.) THE WILDHORSE PARTNERSHIP Balance Sheet Assets S ssignmen Kem 28 min. Balance Sheet Assets $ $ $ rivacy Policy. PODR023sha Wiley3009All Rights Reserved. A DIV on olah. Sias ament PM Reinaming 7 min Liabilities and Owners' Equity $ $ SAVE FOR LATER SUBNET ANSWER Question Attempts: 0 of 1 used Son