Brent Bosch, Carol Colaw, and Debbie Dole are forming a partnership. Bosch is Transferring $ 60,000 of personal cash to the partnership. Colaw owns land worth $ 20,000 and a small Building worth $ 80,000, which she transfers to the partnership. Dole transfers to the partnership Cash of $ 11,000, accounts receivable of $ 34,000 and equipment worth $ 21,000. The partnership Expects to collect $ 30,000 of the accounts receivable.

Instructions

(a) Prepare the journal entries to record each of the partners' investments