Dave Krug contributed $1,100 cash along with inventory and land to a new partnership. The inventory had a book value of $900 and a market value of $2,200. The land had a book value of $1,500 and a market value of $5,200. The partnership also accepted a $3,100 note payable owed by Krug to a creditor. Prepare the partnerships journal entry to record Krugs investment.