The partners agree that the equipment and the merchandise is to be valued at $$42,000$ and $$15,000.$ They also agree that $$5,000$ of the of the accounts receivable are completely worthless and that $$2,500$ is a reasonable balance for allowance for doubtful accounts.

Journalize Greg's contribution to the partnership.

$\backslash$table$[[$Date$,$Account,Debit,Credit$],[\frac{x}{x}\frac{?}{20x},,,],[,,,],[$:$.,,,],[,,,]]$

Journalize Matt's contribution to the partnership.

Date

Account

Debit

Credit

$\backslash$table$[[\frac{x}{x}\frac{?}{20},,,],[,,,],[,,,],[,,,],[,,,]]$