Assume that two individuals agree to form a partnership. Partner A is contributing an operating business that reports the following balance sheet:

Cash	.$ 60,000		Accounts payable.	$ 80,000
Receivables	80,000		Accrued liabilities	60,000
Inventories	100,000		Total liabilities	$140,000
Total assets	$240,000		Net assets	$100,000

Partner B is contributing cash of $140,000. The partners agree that the initial capital of the partnership should be shared equally.

Required: Prepare the journal entry to record the capital contributions of the partners assuming that the partners wish to employ the Bonus Method.