Xi Lin contributed land, inventory, and $20,000 cash to a partnership. The land had a book value of $71,000 and a market value of $127,000. The inventory had a book value of $63,300 and a market value of $58,200. The partnership also assumed a $51,000 note payable owed by Lin that was used originally to purchase the land.

Required:

Provide the journal entry for Lin's contribution to the partnership. If an amount box does not require an entry, leave it blank.