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Carter and Jones form a partnership, CJ Enterprises. Carter contributes cash of $ 9 , 0 0 0 $ 8 , 0 0 0 and

Carter and Jones form a partnership, CJ Enterprises. Carter contributes cash of $9,000 $8,000 and computer equipment with an original cost of $11,000 and accumulated depreciation of $3,000. The current market value of the computer equipment is $6,000.
Jones contributes cash of $12,000 and inventory that she recently purchased for $7,000. In addition, the partnership assumes Jones's accounts payable for $9,000.
The computer equipment should be recorded on CJ Enterprises books at
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