separate journal entries to record the transfer of each proprietorship' s assets and liabilities to the partnership

The post-dosing trial balances of two proprietorships on January 1, 2020, are presented below. Sorensen Company Lucas Company Cr. Cr. Dr. $11,000 Cash $13,000 16,000 Accounts receivable 24,000 Allowance for doubtful accounts $2,800 $4,000 Inventory 16.900 24,500 41.000 Equipment 27.000 Accumulated depreciation equipment 22.100 10.100 Notes payable 16,600 13.800 Accounts payable 20.200 28.500 Sorensen, capital 32,800 Lucas, capital 22.500 594,500 594,500 $72.900 378.900 Sorensen and Lucas decide to forme partnership. Sandhill Company with the following agreed upon valeations for noncash assets. Sorensen Company Lucas Company $16,000 $241000 Accounts receivable Allowance for doubtful accounts Inventory 4,100 ta 25.000 BILLOU Equipment 23.000 131800 HW be transferred to the granershipereche detersi la suite the tworzorships