Kimberly Payne and Arlonna Mapies decide to form a nadnership by combining the assets of their separate businesses. Payne contributes the following assets to the partnership cash 525,230; accounts receivable with a face amount of $150.980 and an allowance for doubtlu accounts of $3,970; merchandise inventory with a cost of $89,120; and equipment with a cost of $138,820 and accumulated depreciation of $41,400, The partners agree that $5,620 of the accounts receivable are complotoy worthless and are not to be accepted by the partnership, that $5.240 is a reasonable allowance for the uncolectibility of the remaining accounts, that the merchandise inventory in to be recorded at the current market price of $100,020, and that the equipment is to be valued at $91,740. On December 1, sumalize the partnership's entry to record Payne's investit. Refer to the Chart of Accounts for exact wording of account alles