Ernest Brown and Cathy Markis form a partnership on September 1, 201X. Brown contributes cash of $43,000. Markis contributes $30,500 cash and land costing $18,300 with a current fair value of $29,500. A $29,500 note payable due to Markis is assumed by the new partnership. Please prepare the journal entries to record Brown’s and Markis’s investment in the partnership.