Moss and Barber organize a partnership on January $1.$ Moss's initial net investment is $$80,000,$ consisting of cash $),$ equipment $($$$67,000),$ and a note payable reflecting a bank loan for the new business $($$$15,000).$ Barber's initial investment is cash of $$40,000.$

Prepare journal entries to record $(1)$ Moss's investment and $(2)$ Barber's investment.

Journal entry worksheet

A

B

Record the initial investment of Moss.

Note: Enter debits before credits.

$\backslash$table$[[$Transaction$,,$Debit,Credit$],[(1),,,],[,,,],[,,,],[,,,],[,,,],[,,,]]$