Penner and Torres decide to merge their proprietorships into a partnership called Pentor Company. The balance sheet of Torres Co. Shows

Accounts receivable $16,000

Less: Allowance for doubtful accounts 1,200 $14,800

Equipment 20,000

Less: Accumlated Depreciation- equip 7,000 13,000

The partnership agree that the net realizable value of the receivables is $14,500 and that the fair value of the equipment is $11,000. Indicate how the accounts should appear in the opening balance sheet of the partnership