Wendy Reichstein and Sonia Datta operate separate auto repair shops. On January 15, 2021, they decided to combine their businesses, which had been operated as proprietorships, to form Wendy & Sonia Auto Repair, a partnership. Information from their separate balance sheets is presented below: Wendy Auto Repair $8,400 7,600 800 4,200 Cash Accounts receivable Allowance for doubtful accounts Accounts payable Notes payable Salaries payable Equipment Accumulated depreciation - equipment Sonia Auto Repair $2,000 32,100 1.500 8,400 15,000 1,100 28,000 16,000 8,700 2,200 It is agreed that the expected realizable value of Wendy's accounts receivable is $4,800 and Sonia's receivables is $29.400. The fair market value of Wendy's equipment is $7,300 and Sonia's equipment is $9,500. It is further agreed that the new partnership will assume all liabilities of the proprietorships with the exception of the note payable on Sonia's balance sheet, which she will pay herself. Prepare the journal entries necessary to record the formation of the partnership. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Date Jan. 15, 2021 Accounts Payable Salaries Payable Accounts Receivable Equipment S. Datta, Capital W. Reichstein, Capital Cash Allowance for Doubtful Accounts (To record Wendy's auto repair) Jan. 15, 2021 Jan. 15, 2021 > (To record Wendy's auto repair) Jan. 15, 2021