Sahir and Adira decide on a partnership structure for their new business and the partnership is formed on 1 November 2019. Sahir contributes cash of $23,000 and inventory with a market value of $97,000 to the partnership.

Adira, who had previously been operating as a sole trader, contributes assets and liabilities to the partnership at agreed market valuations as shown below:

	Book value in Adira's Records	Agreed Market Value
Cash	$27,000	$27,000
Inventory	$76,000	$81,000
Equipment	$49,000	$43,000
Accounts Payable	$36,000	$36,000

Prepare the appropriate General Journal entries to set up the partnership on 1 November 2019.