Jesse and Tim form a partnership by combining the assets of their separate businesses. Jesse contri butes accounts receivable with a face amount of $50,000 and equipment with a cost of $184,000 and accumulated depreciation of $96,000. The partners agree that the equipment is to be valued at $67,800, that $3,700 of the accounts receivable are completely worthless and are not to be accepted by the partnership, and that $1,500 s a reasona s20,000 and merchandise inventory of $45,000. The part valued at $48,500. ble allowance for the uncolectibility of the remaining accounts receivable. Tim contributes cash of ners agree that the merchandise inventory is to be Journalize the entries to record in the partnership accounts (a) Jesse's investment an amount box does not require an entry, leave it blank. and (b) Tim's investment. If