The DELS partnership was formed by combining Individual accounting practices on May 10, 20X1. The Initial Investments were as follows: Current Value Tax Basis 8:19 Delaney: Cash Building Mortgage payable, assumed by DELS Engstrom: Cash Office furniture $ 8,300 $ 8,300 61,000 33,700 36,300 36,300 9,300 9,300 23,700 17,600 Note payable, assumed by DELS 11,300 11,300 Lahey: Cash 13,900 13,900 Computers and printers 18,500 21,800 Note payable, assumed by DELS 16,200 16, 200 Sinon: Cash Library (books and periodicals) 22,200 7,400 22,200 5,400 Required: ences a. Prepare the journal entry to record the Initial Investments using GAAP accounting. (If no entry is required for a transaction/event, select "No journal entry required" In the first account field.)