on January 15 2020 the partners to this agreement are as follows. Dalai mahmud and Haorong Tao.

The Partners to this agreement are as follows:

Dalai Mahmud

Haorong Tao

Contributions: The Partners will make an initial contribution to the Partnership as follows: Dalia Mahmud: Equipment with total appraised value of $5,240 and cash of $9,760. The equipment originally cost Dalia $6,000.

. Haorong Tao: 2011 Chevrolet Express Cargo Van with appraised value of $12,500 and cash of $2,500. Haorong originally paid $20,000 for the van. Interest: The Partners ownership interest in the Partnership will be in equal amounts of 50% each.

Prepare the journal entry of partners initial contributions.