Recording Partner's Original Investment Kimberly Payne and Arionna Maples decide to form a partnership by combining the assets of their separate businesses. Payne contributes the following assets to the partnership: cash, $16,600; accounts receivable with a face amount of $174,300 and an allowance for doubtful accounts of $6,290; merchandise inventory with a cost of $88,330; and equipment with a cost of $181,050 and accumulated depreciation of $117,680. The partners agree that $7,670 of the accounts receivable are completely worthless and are not to be accepted by the partnership, that $13,070 is a reasonable allowance for the uncollectibility of the remaining accounts, that the merchandise inventory is to be recorded at the current market price of $83,030, and that the equipment is to be valued at $79,850. Journalize the partnership's entry to record Payne's investment. For a compound transaction, if an amount box does not require an entry, leave it blank. Cash Accounts Receivable Merchandise Inventory 16,600 166,630