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Question 3; Arsalan, Furqan and Noman decided to form a partnership firm under the name of United Enterprises. The partners sharing profit or loss equally and equal contribution in capital Mr. Arsalan Invest Cash Rs. 50,000/- Merchandise inventory Rs. 50,000/- Supplies Rs. 10,000/Office Building Rs. 230,000 and Machinery Rs. 40,000/- Mr. Furqan Invest Merchandise inventory Rs. 40,000/- Equipment's Rs. 230,000/- Furniture Rs. 10,000/ - and invested sufficient Cash to reach his capital equal to Mr. Arsalan. Mr. Noman Invest Cash Rs. 20,000/- Furniture Rs. 90,000; Machinery Rs. 50,000/- Van Rs. 100,000/ - and invest Merchandise inventory to bring his capital equal to his other partners. Required: 1. Give entries in general journal to record the investment of partners 2. Prepare Initial Balance sheet as on January 31 st 2020