Jesse and Tim form a partnership by combining the assets of their separate businesses. Jesse contributes accounts receivable with a face amount of $$50,000$ and equipment with a cost of $$180,000$ and accumulated depreciation of $$100,000.$ The partners agree that the equipment is to be valued at $$58,000,$ that $$3,500$ of the accounts receivable are completely worthless and are not to be accepted by the partnership, and that $$2,000$ is a reasonable allowance for the uncollectibility of the remaining accounts receivable. Tim contributes cash of $$21,000$ and merchandise inventory of $$44,500.$ The partners agree that the merchandise inventory is to be valued at $$48,000.$

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$.$

b$.$