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Bloom and Plant organize a partnershlp on January 1. Bloom's Initial Investment consists of $450 cash, $1,800 equipment and a $300 note payable ref ecting

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Bloom and Plant organize a partnershlp on January 1. Bloom's Initial Investment consists of $450 cash, $1,800 equipment and a $300 note payable ref ecting a bank loan for the new business. Plant's Initial Investment is cash of $1,950. These amounts are the values agreed on by both pertners. The joumal entry to record Bloom's investment is: O Debit Cash $450; debit Equipment $1800: credit Note Payable $300: credit Bloom, Capital $1.950. O Debit Cash $1,950, credit Bloom, Capital $1,950. Debit Cash $450; clebit Equipment $1800; crecit Bloom, Capital $2.300 O Debit Cash $450; debit Equipment $1500; credit Bloom, Capital $1.950 O Debit Bloom, Capital $2.550: credit Common Stock $2.550

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