Q1) On 1/1/2018 Ahmad has his own business and his balance sheet as follows amount Liabilities & Amount Assets capital 2,400 A/P 15,800 Inventory 5,100 Notes payable 18,000 Equipment 44,750 Capital (5,300) Accumulated deprecation 4,000 A/R (250) Allowance for doubtful debts 16,000 Lands 4,000 Furniture 52,250 52,250 On the same date agree with Majed to establish the partnership with total capital $100,000 divided equally between them Ahmed agree to transfer the following assets and liabilities and paid the balance cash Assets fair value Inventory 12,500 Equipment 12,000 Lands 22,000 A/R 3,500 A/P 1,800 N/P 5,200 And agree majed paid his share in capital cash Required: 1- Prepare journal entries 2- prepare opening balance shee