The post-closing trial balances of two proprietorships on January 1, 2022, are presented below. Sorensen and Lucas decide to form a partnership. Cullumber Company, with the following agreed upon valuations for noncash assets. Sorensen and Lucas decide to form a partnership, Cullumber Company, with the following agreed upon valuations for noncash assets. All cash will be transferred to the partnership, and the partnership will assume all the liabilities of the two proprietorships. (a) Prepare separate journal entries to record the transfer of each proprietorship's assets and liabilities to the partnership. (Credit occount titles are outomatically indented when amount is entered. Do not indent manually.) Prepare separate journat entries to record the transfer of each proprietorship's assets and liabilities to the partnership. (Credit occount tittes are outomotically indented when amount is entered, Do not indent manuolly)