Situation C Partnership

Nick, Doll, and Peter combine their individual sole proprietorship to start the NDP Partnership. Nick, Doll, and Peter invest in the partnership as follows:

Accounts	Nick Partner		Doll Partner		Peter Partner
	Book Value	Fair Value	Book Value	Fair Value	Book Value	Fair Value
Cash	11,000	11,000	-	-	10,000	10,000
Accounts Receivable	4,000	4,000	-	-	-	-
Equipment	10,000	15,000	13,000	11,000	12,000	12,000
Inventory	5,000	5,000	5,000	5,000	5,000	5,000
Accounts Payable	10,000	10,000	-	-	-	-
Bonds Payable	-	-	10,000	9,000	-	-

Instructions: prepare the journal entry for the investment that each partner brings, it is recommended to do the transaction by partner.