Joe Brown and Chris White are forming a partnership to develop a theme park near Panama City, Florida. Brown invests cash of $1 million and land valued at $10 million. When Brown purchased the land in 2007 , its cost was $8 million. The partnership will assume Brown's $3 million note payable on the land. White invests cash of $3 million and equipment worth $7 million. 1. Journalize the partnership's receipt of assets and liabilities from Brown and from White. 2. Compute the parinership's total assets, total liabilities, and total owners' equity immediately after organizing