steps with the blank ones please Recording Partner's Original Investment Hannah...
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steps with the blank ones please
Recording Partner's Original Investment Hannah Freeman and and Hugo Hernandez form a partnership by combining assets of their former businesses The following balance sheet information is provided by Freeman, sole proprietorship: Hannah Freeman Proprietorship Balance Sheet June 1, 20Y3 Cash Accounts receivable Less: Allowance for doubtful accounts Land Equipment Less: Accumulated depreciation-equipment Total assets Accounts payable Notes payable Hannah Freeman, capital Total liabilities and owner's equity Freeman obtained appraised values for the land and equipment as follows: Land $291,000 24,100 Cash Accounts Receivable Land Equipment Allowance for Doubtful Accounts Accounts Payable Notes Payable Hannah Freeman, Capital $87,100 5,100 46,350 87,100 Equipment An analysis of the accounts receivable indicated that the allowance for doubtful accounts should be increased to $7,400. $81,000 50,100 Journalize the partnership's entry for Freeman's investment. For a compound transaction, if an amount box does not require an entry, leave it blank. 26,000 75,250 $46,350 82,000 209,000 30,900 $368,250 $26,000 75,250 267,000 $368,250
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