Mike Derr and Mark Finger form a partnership by combining assets of their separate businesses. The following balance sheet information is provided by Derr from his sole proprietorship 5,200 3,800 9,000 Cash Supplies Equipment Less: Accumulated depreciation-Equip.11,8002,700 Land Total assets 1,700 Accounts payable 3,700 Notes payable $14,500 Total liabilities 4,700 M. Derr, Capital 3,800 $12,800 Total liabilities and equity $12,800 The new partners obtain appraised values and agree to accept the book values for Derr's assets and liabilities except for the following Equipment is valued at $5,700, and land is worth $8,700 Required Prepare the partnership's journal entry to record Derr's investment. View transaction list Journal entry worksheet Record investment of Derr. Note: Enter debits before credits