Ron Marden and Tip Baker operate separate auto repair shops. On January 1, 2020, they decide to combine their separate businesses which were operated as proprietorships to form M & B Auto Repair, a partnership. Information from their separate balance sheets is presented below: Marden Auto Repair Baker Auto Repair Cash $11,000 $ 15,600 Accounts receivable 13,900 11,300 Allowance for doubtful accounts 1,300 4,500 Accounts payable 5,300 6,300 Notes payable 3,500 Salaries and wages payable 1,300 2,200 Equipment 12,900 23,400 Accumulated depreciation-equipment 2,500 4,900 It is agreed that the expected realizable value of Marden's accounts receivable is $ 12,600 and Baker's receivables is $ 6,800. The fair value of Marden's equipment is $ 14,900 and the value of Baker's equipment is $ 19,900. It is further agreed that the new partnership will assume all liabilities of the proprietorships with the exception of the notes payable on Baker's balance sheet which he will pay himself. Prepare the journal entries necessary to record the formation of the partnership. (Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries.) Account Titles and Explanation Cash Accounts Receivable Allowance for Doubtful Accounts Accounts Payable Equipment Accumulated Depreciation - Equipment R. Marden, Capital (To record R. Marden's investment) Debit Credit Cash Inventory Accounts Receivable Allowance for Doubtful Accounts Equipment Accumulated Depreciation - Equipment R. Marden, Capital (To record Baker's investment)