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. Vopat's investment in the partnership consists of $11,000in cash, and the following assets of the proprietorship: accounts receivable $14,200less allowance for doubtful accounts of $1,500, and equipment $19,200less accumulated depreciation of $4,500. It is agreed that the allowance for doubtful accounts should be $2,250for the partnership. The fair value of the equipment is $12,500.