Recording Partners Ural Vesurent Hannah Freeman and and Hugo Hernandez form a partnership by combining assets of their former businesses. The following Freeman, sole proprietorship: Hannah Freeman Proprietorship Balance Sheet June 1, 20Y3 Cash $42,500 Accounts receivable Less: Allowance for doubtful accounts Land $79,900 4,700 75,200 191,000 Equipment Less: Accumulated depreciation equipment $74,000 45,900 Total assets Accounts payable Notes payable 28,100 $336,800 $23,800 68,200 244,800 Hannah Freeman, capital Total liabilities and owner's equity $336,800 Freeman obtained appraised values for the land and equipment as follows: Land $265,000 Recording Partners Ural Vesurent Hannah Freeman and and Hugo Hernandez form a partnership by combining assets of their former businesses. The following Freeman, sole proprietorship: Hannah Freeman Proprietorship Balance Sheet June 1, 20Y3 Cash $42,500 Accounts receivable Less: Allowance for doubtful accounts Land $79,900 4,700 75,200 191,000 Equipment Less: Accumulated depreciation equipment $74,000 45,900 Total assets Accounts payable Notes payable 28,100 $336,800 $23,800 68,200 244,800 Hannah Freeman, capital Total liabilities and owner's equity $336,800 Freeman obtained appraised values for the land and equipment as follows: Land $265,000