Mark as done

Bonnie Blye and Danny Dye form a partnership. Bonnie contributes the following: Cash, $$50,000$; Accounts Receivable, $$40,000$; Supplies, $$10,000$; Accounts Payable, $$20,000.$ Danny contributes: Cash, $$40,000$; Accounts Receivable, $$60,000$; Equipment, $$110,000$; Accounts Payable, $$10,000.$ The fair market value of the equipment is $$100,000.$ Make opening entries for partnership.