Prepare entries for formation of a partnership and a statement of financial position.

a$.$ Bon$-$Joon, Capital $$40,000$ Joon$-$Ho$,$ Capital w$23,000$

c$.$ Total assets $$173,000$

PF$\mathrm{.}1($LO $1,2)$ The post$-$closing trial balances of two proprietorships on January $1,2025,$ are presented below $($amounts in thousands$).$

Cash

Accounts receivable

Allowance for doubtful accounts

Inventory

Equipment

Accumulated depreciation$-$equipment

Notes payable

Accounts payable

Bon$-$Joon, capital

Joon$-$Ho$,$ capital

$\backslash$table$[[$Bon$-$Joon Company,Joon$-$Ho Company$],[$Dr$.,,$Cr$.,$Dr$.,$Cr$.],[\backslash$table$[[14,000],[17,500]],,,$#$12,000,],[,,26,000,],[$W$,3,000,,4,400],[,,18,400,],[,,29,000,],[,24,000,,11,000],[,18,000,,15,000],[,22,000,,31,000],[,36,000,,],[,,,24,000],[\frac{?}{\text{b}\text{a}\text{r}}(W103,000),,03,000,85,400,$W$85,400]]$

Bon$-$Joon and Joon$-$Ho decide to form a partnership, BJH Company, with the following agreed upon valuations for non$-$cash assets.

$\backslash$table$[[$Bon$-$Joon Company,Joon$-$Ho Company$],[17,500,W26,000$