Prepare portion of opening balance sheet for partnership. (LO 2)

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: Accumulated depreciationequip.	7,000	13,000

The partners 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.