Trevor Smith contributed equipment, inventory, and $49,000 cash to a partnership. The equipment had a book value of $25,000 and a market value of $28,000. The inventory had a book value of $60,000, but only had a market value of $20,000, due to obsolescence. The partnership also assumed a $15,100 note payable owed by Smith that was used originally to purchase the equipment. Journalize the entry for Smith's contribution to the partnership. If an amount box does not require an entry, leave it blank