Nancy Fermando has been operating an apartment-locator service as a sole proprietorship. She and Melissa Magnus have decided to form a partnership. Femando's contribution consists of Cash $7,000, Accounts Receivable, $16,000, Fumiture, $18,000, Building (net), $51,000, and Notes Payable, $18,000 To determine Fermando's equity in the partnership, she and Magnus hire an independent appraiser. The appraiser values at the assets and abilities at their book value, except the building which has a current market value of $91,000. Also, there are additional Accounts Payable of $5,000 that Fernando will contribute. Magnus will contribute cash equal to Fermando's equity in the partnership Read the aurements Requirement 1. Journalize the entry on the partnership books to record Femando's contribution (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Cred Choose from any list or enter any number in the input fields and then continue to the next question.