Journalizing Partner's Original Investment

Austin Fisher contributed land, inventory, and $31,000 cash to a An unincorporated business form consisting of two or more persons conducting business as co-owners for profit.partnership. The land had a book value of $64,000 and a market value of $124,000. The inventory had a book value of $50,400 and a market value of $46,900. The partnership also assumed a $46,000 note payable owed by Fisher that was used originally to purchase the land.

Required:

Provide the journal entry for Fisher's contribution to the partnership. If an amount box does not require an entry, leave it blank.