The post-closing trial balances of two proprietorships on January 1, 2022, 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 Equipment 41,000 26,000 Accumulated depreciation-equipment 21,600 9,900 Notes payable Accounts payable Sorensen, capital Lucas, capital 16,200 13,500 19,800 27,900 33,700 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 transferred to the partnership, and the partnership will assume all the liabilities of the two proprietorships. 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 Jan. 1 Cash Accounts Receivable Inventory Equipment Allowance for Doubtful Accounts Notes Payable Accounts Payable Sorensen, Capital (Transfer of Sorensen's assets and liabilities.) Debit Credit 13000 16000 25200 22500 4100 16200 19800 36600 (Transfer of Sorensen's assets and liabilities.) Jan. 1 Cash Accounts Receivable Inventory Equipment Allowance for Doubtful Accounts Notes Payable Accounts Payable Lucas, Capital (Transfer of Lucas' assets and liabilities.) 10800 23000 18000 13500 3600 13500 27900 20300 Further, it is agreed that Sorensen will invest an additional $4,500 in cash, and Lucas will invest an additional $17,100 in cash. 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 Jan. 1 Jan. 1 (To record Sorensen's investment.) (To record Lucas' investment.) Debit Credit