Lee and Roman formed a partnership on March 15, 2018. The partners agreed to contribute equal amounts of capital. Lee contributed her sole proprietorship's assets and liabilities (credit balances in parentheses) as follows: (Click the icon to view the book and market values of the sole proprietorship.) (Click the icon to view additional information.) Read the requirements. More info Requirement 1. Journalize the partners' initial contributions. (Record debits first, then, cr Begin by journalizing the contribution made by Lee. Date Accounts and Explanation Mar. 15 Store Equipment Accounts Receivable Merchandise Inventory Prepaid Expenses Lee, Capital Accounts Payable To record Lee's contribution. Now journalize the contribution made by Roman. On March 15, Roman contributed cash in an amount equal to the current market value of Lee's partnership capital. The partners decided that Lee will earn 70% of partnership profits because she will manage the business. Roman agreed to accept 30% of the profits. During the period ended December 31, the partnership earned net income of $73,000. Lee's withdrawals were $38,000, and Roman's withdrawings totaled $20,000. Debit 29,00 10,30 38,000 2,600 Data table 58,900 21,000 Print Done Lee's Business Current Market Book Value Value Date Accounts and Explanation Debit Credit Mar. 15 Roman, Withdrawals 20000 Accounts Receivable 10300 Accounts Receivable Merchandise Inventory Prepaid Expenses 12,000 $ 10,300 40,000 38,000 3,100 2,600 Cash Roman, Capital 58900 Store Equipment, Net 37,000 29,000 58900 Accounts Payable (21,000) (21,000) To record Roman's contribution. - X