On December 31, 2016, Dana Dacres and Lou Geringer agree to combine their sole proprietorships into a partnership. Their balance sheets on December 31 are shown as follows:

Journalize the contribution of Dacres. Date Accounts and Explanation Dec. 31 Cash Merchandise Inventory Plant Assets Accounts Receivable Accounts Payable other Accrued Payables Notes Payable Dacres, capital To record Dacres' contribution Debit 12,000 47,000 104,000 25,000 Credit 29,000 8,000 57,000 94,000