E$-$F:$12-15$ Accounting for partner contributions Nancy Fernando has been operating an apartment$-$locator service as a sole

proprietorship. She and Melissa Morris have decided to form a partnership. Fernando$$s contribution consists of Cash, $$10,000$; Accounts Receivable, $$11,000$; Furniture, $$18,000$; Building $($net$),$ $$51,000$; and Notes Payable, $$22,000.$ To determine Fernando$$s equity in the partnership, she and Morris hire an

independent appraiser. The appraiser values all the assets and liabilities at their book value except the building, which has a current market value of $$92,000.$ Also, there are additional Accounts Payable of $$3,000$ that Fernando will contribute. Morris will contribute cash equal to Fernando$$s equity in the partnership.

Requirements $1.$ Journalize the entry on the partnership books to record Fernando$$s contribution.