Gwen Delk and Alliesha Johnson decide to form a partnership by combining the assets of their separate businesses. Delk contributes the following assets to the partnership: cash, $11,330; accounts receivable with a face amount of $118,970 and an allowance for doubtful accounts of $4,290; merchandise inventory with a cost of $97,430; and equipment with a cost of $190,070 and accumulated depreciation of $123,550.

The partners agree that $5,230 of the accounts receivable are completely worthless and are not to be accepted by the partnership, that $8,920 is a reasonable allowance for the uncollectibility of the remaining accounts, that the merchandise inventory is to be recorded at the current market price of $91,580, and that the equipment is to be valued at $83,820.

Journalize the partnership's entry to record Delk's investment. For a compound transaction, if an amount box does not require an entry, leave it blank.