May you check if my answers are correct? The first image is the question and the second in my solution.

Is this the right way to present it? Lastly, do I need to close the sole proprietor's books?

Exercise 2 -5 On April 1, 2020, Anne invited Mary to form a partnership. The partnership will be known as Anne & Mary Catering Services. Anne will transfer her business' assets at agreed valuation to the partnership. Anne & Mary Catering Services will assume the existing firm's liabilities. Anne's Agreed Balances Valuation Cash 25,000 25,000 Accounts Receivable 75,000 75,000 Allowance for Doubtful Accounts 5,000 7,500 Catering Supplies Inventory 10,000 15,000 Catering Utensils and Equipment 120,000 110,000 Accumulated Depreciation 6,700 Accounts Payable 8000 8,000 Mary will invest enough cash to give her 1/3 interest on the partnership's total capitalization Required: (1) Compute the adjusted capital balance of Anne upon formation of the partnership. (2) Compute the cash investment of Mary upon formation of the partnership. (3)Prepare the initial statement of financial position for the newly formed partnership AM Catering Services as of April 1, 2019.Anne, Unadjusted Capital Balance Account Name Amount A&M Catering Services Cash 25,000 Statement of Financial Position Allowance for Doubtful Accounts Accounts Receivable 75,000 As of April 1, 2019 5,000 Allowance for Dountful Accounts (5000 2,500 Catering Supplies Inventory 10,000 7,500 Catering Utensils and Equipment 120,000 ASSETS Accumulated Depreciation 6700 CURRENT ASSETS Catering Supplies Inventory Accounts Payable (8000 Cash 129,750 10,000 Anne's Unadjusted Capital 210,300 Trade and Other Receivables (Note 1) 67,500 5,000 Catering Supplies Inventory 15,000 212,250 15,000 Date Particulars PR Debit Credit 2019 NON-CURRENT ASSETS Anne, Capital April 1 Anne, Capital 2,500 Catering Utensils and Equipment 110,000 210,300 Allowance for Doubtful Accounts 2,500 5,000 To record the revaluation of doubtful accounts Total Assets 322,250 2,500 3,300 1 Catering Supplies Inventory 5,000 LIABILITIES & OWNER'S EQUITY 209,500 Anne, Capital 5,000 LIABILITIES To revalue catering supplies Accounts Payable 8,000 Cash 209,500 1 Anne, Capital 3,300 PARTNER'S EQUITY 104,750 Accumulated Depreciation - Utensils and Equipment 3,300 Anne, Capital 209,500 314,250 To revalue depreciation Mary, Capital 104,750 Anne, Adjusted Capital Balance Total Liabilities & Partner's Equity 322,250 Account Name Amount Anne's Unadjusted Capital 210,300 Add: Catering Supplies Inventory 5000 Less: Allowance for Doubtful Accounts (2500 Computational Notes to Financial Statements Accumulated Depreciation - Utensils and Equipme (3300 Note 1: Trade and Other Receivables Anne's Adjusted Capital 209,500 Accounts Receivable 75,000 Allowance for Doubtful Accounts (7500) Total Trade and Other Receivables 67,500