The DELS partnership was formed by combining individual accounting practices on May 10, 20x1. The initial investments were as follows: Current Value Tax Basis $ 8,400 61,600 36,200 $ 8,400 33,400 36,200 Delaney: Cash Building Mortgage payable, assumed by DELS Engstrom: Cash Office furniture Note payable, assumed by DELS Lahey: Cash Computers and printers Note payable, assumed by DELS Simon: Cash Library (books and periodicals) 9,800 24,300 11,400 9,800 17,200 11,400 13,300 18,700 15,200 13,300 22,100 15,200 22,400 7,700 22,400 5,700 Required: 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.) View transaction list Journal entry worksheet