Trevor $m mh contributed equipment, inventory, and $49,000 cash to a partnership. The equipment had a book value of $27,000 and a market value of $30,000. The inventery had a book value of $80,000, but only had a market value of $40,000, due to obsolescence. The partnership also assumed a $15,500 note payable owed by 5mith that was used onginally to purchase the equipment. Provide the journal entry for Smith's contribution to the parthershia. If an amount box does not require an entry, ieave it blanik