Multiple Choice Question 58 Bagley invests personally owned equipment, which onginally cost $224600 and has accumulated depreaation of $60800 in the Bagley and Eggers partnership. Both partners agree that the fair value of the equipment was $119400. The entry made by the partnership to record Bagley's investment should be Equipment Loss on Purchase of Equipment Accumulated Depreciation-Equipment 119400 44400 60800 Bagley, Capital 224600 163800 Bagley, Capital 163800 OEquipment 224600 Accumulated Deprecation-Equipment Bagley, Capital 60800 163800 Equipment 119400 Bagley, Capital 119400