Journalizing Partner's Original Investment Austin Fisher contributed land, inventory, and $25,000 cash to a partnership. The land had a book value of $79,000 and a market value of $145,000. The inventory had a book value of $69,300 and a market value of $63,800. The partnership also assumed a $57,000 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. Accounts Payable Allowance for Doubtful Accounts Cash Austin Fisher, Capital Austin Fisher, Drawing Dividing Partnership Net Income Required: Steve Conyers and Chelsy Boxer formed a partnership, dividing income as follows: 1. Annual salary allowance to Conyers of $156,600. 2. Interest of 5% on each partner's capital balance on January 1. 3. Any remaining net income divided to Conyers and Boxer, 1:2. Conyers and Boxer had $78,000 and $93,000, respectively, in their January 1 capital balances. Net income for the year was $270,000. How much is distributed to Conyers and Boxer? Note: Compute partnership share. Conyers: $ Boxer: $