Mohammed and Ali agree to establish a new partnership. The partners have been agreed that Mohammed paid the amount cash. And they also agreed that Ali transfer his own business according to the following balance sheet: Land Accounts receivable Inventory Total 4,000 12.000 2,000 18,000 Account Payable Capital 2,000 16,000 13,000 The fair value of land 10% more than book value the fair value of Accounts receivable is 10.000$, the fair value of inventory is 5% less than book value, accounts payable fair value 300$ more than book value , Mohammed paid cash have of Ali net assets fair value Instructions: 1) Determine Mohammed and Ali capital 2) Prepare the joumal entries to establish the new partnership (4 Points) (4 Points)