The post-closing trial balances of two proprietorships on January 1, 2022, are presented below. Sorensen Company Lucas Company Dr. Cr. Dr. Cr. Cash $14,000 $12,000 Accounts receivable 17,500 26,000 Allowance for doubtful accounts $3,000 $4,400 Inventory 26,500 18,400 Equipment 45,000 29,000 Accumulated depreciation-equipment 24,000 11,000 Notes payable 18,000 15,000 Accounts payable 22,000 31,000 Sorensen, capital 36,000 Lucas, capital 24,000 $103,000 $103,000 $85,400 $85,400 Sorensen and Lucas decide to form a partnership, Solu Company, with the following agreed upon valuations for noncash assets. Sorensen Company Lucas Company Accounts receivable $17,500 $26,000 Allowance for doubtful accounts 4,500 4,000 Inventory 28,000 20,000 Equipment 25,000 15,000 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 Debit Credit