E12-2 K. Decker, S. Rosen, and E. Toso are forming a partnership. Decker is transferring

$50,000 of personal cash to the partnership. Rosen owns land worth $15,000 and a small

building worth $80,000, which she transfers to the partnership. Toso transfers to the part-

nership cash of $9,000, accounts receivable of $32,000, and equipment worth $39,000. The

partnership expects to collect $29,000 of the accounts receivable.

Instructions Prepare the journal entries to record each of the partners investments