T$.$ Johnson, N$.$ Jone, and F$.$ Denner are forming The Blossom Partnership on December $1,2024.$ Johnson is transferring $$22,500$ of personal cash and equipment worth $$18,750$ to the partnership. Jone owns land worth $$21,000$ and a small building worth $$56,250,$ which he transfers to the partnership. There is a long$-$term mortgage of $$15,000$ on the land and building, which the partnership assumes. Denner transfers cash of $$5,250,$ accounts receivable of $$27,000,$ supplies worth $$2,250,$ and equipment worth $$20,250$ to the partnership. It is agreed that the allowance for doubtful accounts should be $$3,000$ for the partnership.

Prepare a classified balance sheet for the partnership after the partners' investments on December $1,2024.($List Current Assets in order of liquidity. List Property, Plant, and Equipment in order of Land, Buildings and Equipment.$)$

THE BLOSSOM PARTNERSHIP Balance Sheet

December $1,2024$

Assets

$$

$

Add

Allowance for Doubtful Accounts

$$

$

Liabilities and Partners' Equity

$

$$

S