The post-closing trial balances of two proprietorships on January 1, 2020, are presented below Sorensen Company Lucas Company Dr Cr. Dr Cr. Cash $13,000 $10,800 Accounts receivable 16,000 23,000 Allowance for doubtful accounts $2,700 $4,000 Inventory 24,000 16,600 41,000 Equipment 26,000 21,600 9,900 Notes payable 16,200 13,500 Accounts payable 19,800 27,900 Sorensen, capital 33,700 Lucas, capital 21,100 $94,000 $94,000 $76,400 $76,400 Sorensen and Lucas decide to form a partnership, Carla Vista Company, with the following agreed upon valuations for noncash assets. Sorensen Company Lucas Company Accounts receivable $16,000 $23,000 Allowance for doubtful accounts 4,100 3,600 Inventory 25,200 18,000 Equipment 22,500 13,500 All cash will be transfe red to the partnership, and the partnership ill assume all the liabilities of the t o proprietorships. Further, it is agreed that Sorensen will invest an additional 4,500 cash. cash, and Lucas will est an additional $17 100 in Prepare separate journal entries to record the transfer of each proprietorship's assets and liabilities to the partnership. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 Transfer of Sorensen's assets and liabilities.) Jan. 1 Transfer of Lucas' assets and liabilities.) Journalize the additional cash investment by each partner. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit Jan. 1 To record Sorensen's investment) Jan. 1 To record Lucas investment.) Prepare a classified balance sheet for the partnership on January 1, 2020. (List Current Assets in order of liquidity.) CARLA VISTA COMPANY Balance Sheet Assets Liabilities and Owners' Equity