Entries and Balance Sheet for Partnership On April 1, 2041, Whitney Lang and Eli Capri form a partnership. Lang agrees to invest $12,900 cash and merchandise inventory valued at $34,800. Capri invests certain business assets at valuations agreed upon, transfers business liabilities, and contributes sufficient cash to bring his total capital to $86,000. Details regarding the book values of the business assets and liabilities, and the agreed valuations, follow: Capri's Ledger Agreed-Upon Balance Balance $19,700 $16,000 Accounts Receivable Allowance for Doubtful Accounts 900 1,100 23,000 30,800 38,700 37,500 Merchandise Inventory Equipment Accumulated Depreciation-Equipment Accounts Payable Notes Payable (current) 12,900 7,000 4,300 7,000 4,300 The partnership agreement includes the following provisions regarding the division of net income: interest of 8% on original investments, salary allowances of $38,700 (Lang) and $23,600 (Capri), and the remainder equally