Fontaine and Monroe are forming a partnership. Fontaine invests a building that has a market value of $354,000; the partnership assumes responsibility for a $127,000 note secured by a mortgage on the property. Monroe invests $102,000 in cash and equipment that has a market value of $77,000. For the partnership, the amounts recorded for Fontaine's Capital account and for Monroe's Capital account are:

Fontaine and Monroe are forming a partnership. Fontaine invests a building that has a market value of $354,000; the partnership assumes responsibility for a $127,000 note secured by a mortgage on the property. Monroe invests $102,000 in cash and equipment that has a market value of $77,000. For the partnership, the amounts recorded for Fontaine's Capital account and for Monroe's Capital account are: Multiple Choice O Fontaine, Capital $354,000; Monroe, Capital $179,000. O Fontaine, Capital $227,000; Monroe, Capital $77,000. Fontaine, Capital $227,000; Monroe, Capital $179,000. O Fontaine, Capital $354,000; Monroe, Capital $102,000. O Fontaine, Capital $227,000; Monroe, Capital $102,000