Stevie Lewis and Mack Young are forming a partnership to develop a golf course. Lewis contributes cash of $1,000,000 and land with a current market value of $10,000,000. When Lewis purchased the land in 2012, it cost $7,000,000. Young contributes cash of $3,000,000 and equipment with a current market value of $800,000. Journalize the partnership's receipt of assets from Lewis and Young.

1. Start by journalizing the partnership's receipt of assets from Lewis

2. journalize the partnership's receipt of assets from Young