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 1.000 3,000 1 Cash 2 Supplies 3 Equipment 4 Less: Accumulated depreciation Is Land 6 Total assets Accounts payable Notes payable Total liabilities 4.500 2.100 7,600 Equip 2.100 M. Dern Capital Total liabilities and equity S10.000 The new partners obtain appraised values and agree to recept the book values for Derr's assets and liabilities except for the following: Equipment is valued at $5.000, and on Required Prepare the partnership' jumal entry to record Der's