Suzy Vopat has owned and operated a proprietorship for several years. On January 1, she decides to terminate this business and become a partner in the firm of Vopat and Sigma. Vopats investment in the partnership consists of $12,000 in cash, and the following assets of the proprietorship: accounts receivable $14,700 less allowance for doubtful accounts of $2,300, and equipment $19,600 less accumulated depreciation of $3,700. It is agreed that the allowance for doubtful accounts should be $3,450 for the partnership. The fair value of the equipment is $13,500.

Instructions: Journalize Vopats admission to the firm of Vopat and Sigma.