Vanessa Kaiser and Mariah Newman decide to form a partnership by combining the assets of their separate businesses. Kaiser contributes the following assets to the partnership: cash, $$24,290$; accounts receivable with a face amount of $$171,520$ and an allowance for doubtful accounts of $$4,420$; merchandise inventory with a cost of $$90,120$; and equipment with a cost of $$142,010$ and accumulated depreciation of $$46,810.$

The partners agree that $$6,170$ of the accounts receivable are completely worthless and are not to be accepted by the partnership, that $$4,320$ is a reasonable allowance for the uncollectibility of the remaining accounts, that the merchandise inventory is to be recorded at the current market price of $$100,820,$ and that the equipment is to be valued at $$78,270.$

Required:

On December $1,$ journalize the partnership$$s entry to record Kaiser$$s investment. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.