I believe that is the right way to lable the journal entries, but if they look wrong, feel free to change it. Thank you!

Jesse and Tim form a partnership by combining the assets of their separate businesses. Jesse contributes accounts receivable with a face amount of $47,000 and equipment with a cost of $178,000 and accumulated depreciation of $95,000. The partners agree that the equipment is to be valued at $68,400, that $3,000 of the accounts receivable are completely worthless and are not to be accepted by the partnership, and that $2,000 is a reasonable allowance for the uncollectibility of the remaining accounts receivable. Tim contributes cash of $22,000 and merchandise inventory of $45,500. The partners agree that the merchandise inventory is to be valued at $49,000. Journalize the entries in the partnership accounts for (a) Jesse's investment and (b) Tim's investment. If an amount box does not require an entry, leave it blank. a. Accounts Receivable Equipment Allowance for Doubtful Accounts Jesse, Capital b. Cash Merchandise Inventory Tim, Capital