Jordan and Sullivan start a partnership on January 1 of the current year. Sullivan contributes $38,000 cash, a piece of equipment that originally cost $35,000 (accumulated depreciation of $23,000 and a current market value of $25,000 ), and accounts payable with a current market value of $9,000. Prepare the journal entry to record Sullivan's partnership investment. (Record debits first, then credits. Exclude explanations from journal entries.)