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		$ 10,800		$ 15,900
Accounts receivable		12,600		11,200
Allowance for doubtful accounts		1,000		4,300
Accounts payable		5,600		5,600
Notes payable				3,500
Salaries and wages payable		1,350		2,000
Equipment		13,700		25,600
Accumulated depreciationequipment		2,000		4,500

It is agreed that the expected realizable value of Mardens accounts receivable is $ 11,600 and Bakers receivables is $ 6,900. The fair value of Mardens equipment is $ 13,600 and the value of Bakers equipment is $ 20,200. It is further agreed that the new partnership will assume all liabilities of the proprietorships with the exception of the notes payable on Bakers 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	Debit	Credit
select an account title to record R. Mardens investment Accounts ReceivableAccumulated Depreciation - EquipmentEquipmentR. Marden, CapitalCashInventorySalaries and Wages PayableAllowance for Doubtful AccountsT. Baker, CapitalAccounts Payable	enter a debit amount	enter a credit amount
select an account title to record R. Mardens investment Allowance for Doubtful AccountsR. Marden, CapitalAccounts PayableEquipmentSalaries and Wages PayableInventoryAccumulated Depreciation - EquipmentT. Baker, CapitalAccounts ReceivableCash	enter a debit amount	enter a credit amount
select an account title to record R. Mardens investment CashT. Baker, CapitalEquipmentAllowance for Doubtful AccountsAccounts ReceivableSalaries and Wages PayableInventoryAccounts PayableR. Marden, CapitalAccumulated Depreciation - Equipment	enter a debit amount	enter a credit amount
select an account title to record R. Mardens investment Accounts ReceivableT. Baker, CapitalAccumulated Depreciation - EquipmentCashR. Marden, CapitalAllowance for Doubtful AccountsEquipmentAccounts PayableInventorySalaries and Wages Payable	enter a debit amount	enter a credit amount
select an account title to record R. Mardens investment InventoryAccounts ReceivableT. Baker, CapitalCashAllowance for Doubtful AccountsAccumulated Depreciation - EquipmentSalaries and Wages PayableAccounts PayableEquipmentR. Marden, Capital	enter a debit amount	enter a credit amount
select an account title to record R. Mardens investment R. Marden, CapitalSalaries and Wages PayableEquipmentCashInventoryAccounts ReceivableAccumulated Depreciation - EquipmentAllowance for Doubtful AccountsAccounts PayableT. Baker, Capital	enter a debit amount	enter a credit amount
select an account title to record R. Mardens investment CashEquipmentInventoryAccounts ReceivableAllowance for Doubtful AccountsAccumulated Depreciation - EquipmentR. Marden, CapitalT. Baker, CapitalAccounts PayableSalaries and Wages Payable	enter a debit amount	enter a credit amount
(To record R. Mardens investment)
select an account title to record Bakers investment EquipmentAllowance for Doubtful AccountsInventoryCashR. Marden, CapitalAccumulated Depreciation - EquipmentAccounts ReceivableSalaries and Wages PayableAccounts PayableT. Baker, Capital	enter a debit amount	enter a credit amount
select an account title to record Bakers investment Salaries and Wages PayableCashT. Baker, CapitalAllowance for Doubtful AccountsAccounts ReceivableR. Marden, CapitalAccounts PayableEquipmentInventoryAccumulated Depreciation - Equipment	enter a debit amount	enter a credit amount
select an account title to record Bakers investment T. Baker, CapitalCashSalaries and Wages PayableInventoryR. Marden, CapitalEquipmentAccumulated Depreciation - EquipmentAllowance for Doubtful AccountsAccounts ReceivableAccounts Payable	enter a debit amount	enter a credit amount
select an account title to record Bakers investment T. Baker, CapitalInventoryAccounts PayableCashAccumulated Depreciation - EquipmentR. Marden, CapitalSalaries and Wages PayableEquipmentAllowance for Doubtful AccountsAccounts Receivable	enter a debit amount	enter a credit amount
select an account title to record Bakers investment Salaries and Wages PayableT. Baker, CapitalR. Marden, CapitalEquipmentAccounts PayableAccumulated Depreciation - EquipmentCashInventoryAccounts ReceivableAllowance for Doubtful Accounts	enter a debit amount	enter a credit amount
select an account title to record Bakers investment EquipmentAllowance for Doubtful AccountsAccounts ReceivableAccounts PayableCashAccumulated Depreciation - EquipmentSalaries and Wages PayableInventoryR. Marden, CapitalT. Baker, Capital	enter a debit amount	enter a credit amount
select an account title to record Bakers investment InventoryEquipmentR. Marden, CapitalAccounts ReceivableAccumulated Depreciation - EquipmentCashAccounts PayableSalaries and Wages PayableT. Baker, CapitalAllowance for Doubtful Accounts	enter a debit amount	enter a credit amount
(To record Bakers investment)