Cheng and Morales, zwo recent graduates of Upper State University, formed a computer consulting firm. Chengercontributed an extensive, up-to-date computer installation. valued at $60000. This equipment had been financed by a bank loan; the paranership assumed the current balance of 525,000 . Cheng also invested $5,000 cash. Morales had receritly inherited a small office bulding, valued at 5150,000 and encumbered by a mortgage debt of 535,000 . Morales transferred both the buliding and the debt to the partnership. Cheng's extensive computer skills coupled with Morales' sales and custorner service skilis suggest a profitable future for the firm. They agreed to share frofits in the ravio of 40 percent for Cheng and 60 percent for Morales, in part because of Morales larger investment. fequived Compute the balance in cach partner's capital account and record the partnership formation entry if the: NOTE: If the additional debit journal entry is not needed, select "No entry" as your answer and leave the Debiticredit nurnerical answers blank (zero). a. Partners do not specify any capital relationship