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Dave Krug contributed $2.700 cash along with inventory and land to a new partnership. The inventory had a book value of $2,500 and a market value of $5,400. The land had a book value of $3,100 and a market value of $8,400. The partnership also accepted a $4700 note payable owed by Krug to a creditor Prepare the partnership's journal entry to record Krug's investment. View transaction list Journal entry worksheet Record the investment of krug. unter debts bort De Credit Transaction Ginacal Journal 13 Nat> Stolton and Bright are partners in a business they started two years ago. The partnership agreement states that Stolton should receive a salary allowance of $12,300 and that Bright should receive a $21.900 salary allowance Any remaining income or loss is to be shared equally Determine each partner's share of the current year's net income of $52,600 (Enter all allowances as positive values. Enter losses os negative values.) Total 52.600 Allocation of Partnership income Sulton Bright Not Income Salary allowances Balance of income Balance allocated equally Balance of income Shares of the partners Stein agrees to pay Choi and Amal $9,900 each for a one-third (331/3%) interest in the Choi and Amal partnership Immediately prior to Stein's admission, each partner had a $29,700 capital balance. Prepare the journal entry to record Stein's purchase of the partners' interest View transaction list Journal entry worksheet