(balance sheet has 20 rows)

*type out if possible, handwriting is hard to read sometimes.

Instructions On March 1, 2018. Eric Keene and Renee Wallace forma partnership. Keene agrees to invest $20,900 in cash and merchandise inventory valued at $55.950. Walace Invests certain business assets at valuations agreed upon, transfers business labilities and contributes sufficient cath to bring her total capital to $60,390. Details regarding the book values of the business assets and abilities, and the agreed valuation, foto: Accounts Receivable Allowance for Doubtful Accounts Equipment Accumulated Depreciation Accounts Payable Notes Payable (current) Wallace's Ledger Agreed-Upon Balance Valuation $19,370 $18.480 1240 1.520 83.050 54.330 29.920 14.00 14,980 35,000 35.860 The Retentiaereement includes the following provisions regarding the division of net income: Interest on original investments at 10%, salary allowancet of $22.800 (Keene) and $30,590 (Wallace), and the remainder equal Required: 1. Journalize the entries on March 1 no record the investments of Koderne and Wallaced the cartello counter The partnership agreement includes the following provisions regarding the division of net income interest on original investments at 10%, salary allowances of $22,800 (Keene) and $30,590 (Wallace), and the remainder equally Required: 1. Jourmalize the entries on March 1 to record the investments of Keene and Wallacen the partnership accounts." 2. Prepare a buntance sheet as of March 1, 2008, the date of formation of the partnership of Koone and Wallace. Be sure to complete the statoment heading. Refer to the Chart of Accounts and the lot of Label and Amount Descriptions provided for the exact wording of the answer choices for text entries. Enter current assets in order of Nowy. "Less"Adror celovna (,) wW automatically appear or required. Enter all amounts as positive numbers 3. Aller austments at February 28, 209, the end of the first year of operations, the revenues were $198.300 and expenses wwe $206,700, for a not income of 500,000. The drawing accounts have debut bemoes of $27.870 (Koone) and $30,730 /Watace) Joumalizotto entries to close the revenues and expenses and the drawing accounts at February 28, 2019 "Refer to the chart of accounts for the exact wording of me account files. CNOW journals do not use Ines for journal explanations. Every Nine on a journal page is used for debitor credit entries. CNOW journals will automatically indent a credit entry when a credit amounts entered JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF DET CREDIT ASSETS LABUITIES EQUITY 1 2 3 5 0 7 10 Keene and Wallace Balance Sheet (Label) 1 Assets 2 (Label 3 4 5 6 7 (Label) 1 10 Liabilities