X is a one-half partner in a partnership with $4,000 of accounts receivable with a zero basis, capital assets of $6,000 with a $2,000 basis and no liabilities. If X receives $5,000 of capital assets from the partnership in exchange for his entire interest, which of the following is deemed to occur?

A. X must recognize a capital fain of $2,000. B. X must recognize a capital gain of $3,000 C. X must recognize ordinary income of $2,000 D. X need not recognize any gain or loss.