BE12.1 (LO 1), AP Barbara Kipley and Fred Nichols decide to organize the ALL-Star partnership. Kipley invest $15,000 cash, and Vichols contributes $10,000 cash and equipment having a book value of $3,500. Prepare the entry to record Nichols's investment in the partnership, assuming the equipment has a fair value of $4,000. BE12.1 (LO 1), AP Barbara Kipley and Fred Nichols decide to organize the ALL-Star partnership. Kipley invest $15,000 cash, and Vichols contributes $10,000 cash and equipment having a book value of $3,500. Prepare the entry to record Nichols's investment in the partnership, assuming the equipment has a fair value of $4,000