Todd is investing in a partnership with Joseph. Todd contributes equipment that originally cost $$42,000,$ has a book value of $$20,000,$ and a fair value of $$26,000.$ The entry that the partnership makes to record Todd's initial contribution includes a

Question $2$ options:

debit to Equipment for $$42,000.$

credit to Accumulated Depreciation for $$22,000.$

debit to Equipment for $$22,000.$

debit to Equipment for $$26,000.$