Journalizing Partner's Original Investment Xi Lin contributed land, inventory, and $21,000 cash to a partnership. The...

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Journalizing Partner's Original Investment Xi Lin contributed land, inventory, and $21,000 cash to a partnership. The land had a book value of $74,000 and a market value of $136,000. The inventory had a book value of $62,100 and a market value of $57,100. The partnership also assumed a $53,000 note payable owed by Lin that was used originally to purchase the land. Required: Provide the journal entry for Lin's contribution to the partnership. If an amount box does not require an entry, leave it blank. Cash Inventory Land Notes Payable Xi Lin, Capital Journalizing Partner's Original Investment Xi Lin contributed land, inventory, and $21,000 cash to a partnership. The land had a book value of $74,000 and a market value of $136,000. The inventory had a book value of $62,100 and a market value of $57,100. The partnership also assumed a $53,000 note payable owed by Lin that was used originally to purchase the land. Required: Provide the journal entry for Lin's contribution to the partnership. If an amount box does not require an entry, leave it blank. Cash Inventory Land Notes Payable Xi Lin, Capital