Barton and Fallows form a partnership by combining the assets of their separate businesses Barton contributes accounts recevable with a face amount of $50,000 and equipment with a cost of $190,000 and accumulated depreciation of $100,000. The partners agree that the equipment is to be valued at $85,000, that $3.500 of the accounts receivable are completely worthless and are not to be accepted by the partnership, and that $1,500 coable allowance for the uncollectibility of the remaining accounts receivable. Fallows contributes cash of $28,500 and merchandise inventory of $55,500 The pammers agree that the merchandise inventory is to be valued at $60,000.