Cathy Smith and Jason Rider form a new partnership on January 1, 2020. Cathy Smith invested $1,600 cash along with inventory and equipment. The inventory had a book value of $1,400 and a market value of $3,200. The equipment had a book value of $2,000 and a market value of 56,200. The partner also accepted a $3,600 note payable owed by Cathy Smith. Required: Prepare the joumal entry to record Cathy Smith's investment into the partnership. (Round your answers to the nearest whole dollar.) View transaction list Journal entry worksheet Prepare the journal entry to record Cathy Smith's investment into the partnership Note: Enter debits before credits Debit General Journal Transaction Credit