On January 1, 2014, Jackson and Kendall formed a partnership. Jackson, who has many years of experience in this line of business, contributed $100,000 in cash. Kendall contributed assets that have the following book values and fair market values: Book Value Market Value Merchandise $15,000 $25,000 Building 40,000 150,000 Equipment 60,000 85,000 The partnership assumed a mortgage of $40,000 on the Building. Prepare the entry to record the formation of the partnership, under the following methods: a. Capital accounts are set to equal net assets invested b. The partners have equal interest in the initial total partnership capital, and the bonus method is used. c. The partners have equal interest in the initial total partnership capital, and the goodwill method is used.