Start by making me pare the pa Now you Date r ece ses from Leonard Accounts and explanation Credit Question Help 7. Nick Adams and Ted Leonard are forming a partnership to develop a golf course. Adams contributes cash of $1,100,000 and land with a current market value of $10,500,000. When Adams purchased the land in 2012, it cost $8,000,000. Leonard contributes cash of $2,800,000 and equipment with a current market value of $850,000. Journalize the partnership's receipt of assets from Adams and Leonard. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Start by journalizing the partnership's receipt of assets from Adams Date Accounts and Explanation Debit Credit Choose from any list or enter any number in the input fields and then continue to the next question, 7. Nick Adams and Ted Leonard are forming a partnership to develop a golf course. Adams contributes cash of $1,1 equipment with a current market value of $850,000. Journalize the partnership's receipt of assets from Adams and L Start by journalizing the partnership's receipt of assets from Adams. Date Accounts and Explanation Debit Credit Now journalize the partnership's receipt of assets from Leonard. Date Accounts and Explanation Debit Credit