1. D. Hassan and P. Ahmad combine their proprietorships to start a partnership named D.P. Software. Hassan and Ahmad have the following assets prior to the formation of the partnership.

	Book Value		Fair Value
	D. Hassan	P. Ahmad	D. Hassan	P. Ahmad
cash	$80,000.0	$90,000.0	$80,000.0	$90,000.0
equipment	$50,000.0		$35,000.0
Accumulated depreciation- equipment	($15,000.0)
Accounts Receivables		$40,000.0		$40,000.0
Allowance for doubtful accounts		($5,500.0)		($10,000.0)
	$130,000.0	$124,500.0	$115,000.0	$120,000.0

Prepare the entry to record the investment of D. Hassan (2 marks)

Prepare the entry to record the investment of P. Ahmad (2 marks)