On January 1, 2020, Craig and Hillary start a partnership. Craig invests a building worth $70,000 and equipment valued at $18,000. Hillary invests $20,000 in cash. The partners have agreed that Hillary will operate the business and be an equal partner in the beginning capital balances. The journal entry on January 1 to record the transaction using the bonus method would be:

Type "Debit" in front of each debit line.

Type "Credit" in front of each credit line.

Show and label calculations.