Question: Brian Sleeper and Ronald Hanlon enter into a partnership. On November 1, 201X, Brian invests $7,600 cash in the partnership. Ronald invests $4,400 cash and

Brian Sleeper and Ronald Hanlon enter into a partnership. On November 1, 201X, Brian invests $7,600 cash in the partnership. Ronald invests $4,400 cash and store equipment worth $5,900 with accumulated depreciation of $2,600. The equipment has a current appraised value of $9,800. Prepare a journal entry to record this transaction.

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