Tammie Pike and Gail Smith agree to combine their businesses and form a partnership. The fair value and the carrying amount of the assets contributed by each partner and the liabilities assumed by the partnership are shown below. Tammie Pike Gail Smith Carrying Fair Carrying Fair amount value amount value Cash at bank $5,300 $5,300 $5,000 $5,000 Accounts receivable 11,000 11,000 9,800 9,800 Inventory 18,900 18,500 15,900 15,700 Equipment 61,900 41,300 64,500 27,500 Accumulated depreciation - equipment (16,000 ) (22,800 ) Accounts payable 11,500 11,500 11,000 11,000 Prepare separate general journal entries to record the initial investment of each partner, assuming assets are recorded by the business to reflect their purchase price, and the arrangement is GST-free. (Enter all debit entries first, followed by all credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Particulars Debit Credit