Section 2 (5 Marks) [CLO 3] a) At what value noncash assets should be recorded in a partnership (1 mark)? b) D. Rayyan and P. Wafa combine their proprietorships to start a partnership named D.P. Software. Rayyan and Wafa have the following assets prior to the formation of the partnership Book Value Fair Value D. P. Wafa D. P. Wafa Rayyan Rayyan cash $1,600 $1,800 $1,600 $1,800 equipment $1,000 SO $700 $0 Accumulated depreciation- equipment ($300) $0 $0 $0 Accounts Receivables $0 $800 $0 $800 Allowance for doubtful accounts $0 ($110) $0 ($200) $2,600 $2,490 $2,300 $2,400 Prepare the entry to record the investment of D. Rayyan (2 marks) Prepare the entry to record the investment of P. Wafa (2 marks)