Barbara Ripley and Fred Nichols decide to organize the ALL-Star partnership. Ripley invests $23,700 cash, and Nichols contributes $11,000 cash and equipment having a book value of $5,056. Prepare the entry to record Nichols's investment in the partnership, assuming the equipment has a fair value of $6,320. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit K. Decker, S. Rosen, and E. Toso are forming a partnership. Decker is transferring $50,600 of personal cash to the partnership. Rosen owns land worth $15,300 and a small building worth $77,500, which she transfers to the partnership. Toso transfers to the partnership cash of $11,800, accounts receivable of $32,500, and equipment worth $18,800. The partnership expects to collect $29,250 of the accounts receivable. Prepare the journal entries to record each of the partners' investments. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation (To record investment of Decker.) (To record investment of Rosen.) + Debit Credit (To record investment of Rosen.) (To record investment of Toso.) Terry, Nick, and Frank are forming The Sandhill Partnership. Terry is transferring $30,400 of personal cash and equipment worth $25,900 to the partnership. Nick owns land worth $17,900 and a small building worth $75,500, which he transfers to the partnership. There is a long-term mortgage of $19,400 on the land and building, which the partnership assumes. Frank transfers cash of $7,300, accounts receivable of $35,500, supplies worth $2,200, and equipment worth $21,100 to the partnership. The partnership expects to collect $32,700 of the accounts receivable. Prepare a classified balance sheet for the partnership after the partners' investments on December 31, 2022. (List current assets in order of liquidity. List Property, Plant and Equipment in order of Land, Buildings and Equipment.) Long-term Liabilities Liabilities and Owners' Equity Long tern mortgage Terry, Capital Nick, Capital Frank, Capital Owners' Equity Total Liabilities and Owners' Equity 74000 63300 193600