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Journalizing partner's original investment Instructions Chart of Accounts Journal Journal Shaded cells have feedback. Instructions On December 31, provide the joumal entry for Renfra's contribution to the partnership Refer to the Chart of Accounts for exact wording of account titles. How does grading work? Holly Rentro contributed a patent, accounts receivable, and $24,010 cash to a partnership. The patent had a book value of $7,570. However, the technology covered by the patent appeared to have significant market potential. Thus, the patent was appraised at $79,080. The accounts receivable control account was $37,630, with an allowance for doubtful accounts of $2,190. The partnership also assumed a $9,840 account payable owed to a Rentro's supplier. PAGE 10 JOURNAL Score: 71/73 ACCOUNTING EQUATION DATE DESCRIPTION POST. REF CREDIT ASSETS LIABILITIES EQUITY Dec 31 Patent Accounts Receivable DEBIT 79,080.00 37,630.00 24.010.00 Cash On December 31. provide the journal entry for Renfro's contribution to the partnership. Refer to the Chart of Accounts for exact wording of account rities. Accounts Payable 9,840.00 Allowance for Doubtful Accounts 2,190.00 140,720.00 Holly Renfro, Capital Nevaluny dulu LUIILI IDULTY DESULS U d pal LUIS Instructions Chart of Accounts Journal Journal Shaded cells have feedback. Instructions A. On December 31, provide the journal entry for ile revaluation of land. B. On December 31, provide the journal entry to admit Roberts." "Refer to the Chart of Accounts for exact wording of account titles. Round your answers to the nearest dollar Craig Roberts purchased one-half of Ennis Leighton's interest in the Vale and Leighton partnership for $33.260. Prior to the investment, land was revalued to a market value of $150,560 from a book value of $63,340.Tony Vale and Ennis Leighton share net income equally. Leighton had a capital balance of S25.400 prior to these transactions. How does grading work? PAGE 11 JOURNAL Score: 58/63 ACCOUNTING EQUATION Required: DATE DESCRIPTION POST. REF. CREDIT ASSETS LIABUTIES EQUITY Dec 31 Land DEBIT 67,220.00 A. On December 31, provide the joumal entry for the revaluation of land." B. On December 31, provide the joumal entry to admit Roberts. Tony Vale, Capital Ennis Leighton, Capital 33,610.00 33,610.00 3,755.00 Dec 31" Craig Roberts, Capital Ennis Leighton, Capital *Refer to the Chart of Accounts for exact wording of account titles. Round your answers to the nearest dollar 3,755.00