Sue Thompson and Aaron Longdecide to form a partnership on August 1. Thompson invests the following assets and liabilities in the new partnership:

	Market Value
Land	$100,000
Building	$350,000
Note payable	$155,000

The note payable is associated with the building and the partnership will assume responsibility for the loan. Longinvested $100,000 in cash and $95,000 in equipment in the new partnership. Prepare the journal entries to record the two partners' original investments in the new partnership.