Melissa Shallowford contributed a patent, accounts receivable, and $15,000 cash to a

Melissa Shallowford contributed a patent, accounts receivable, and $15,000 cash to a partnership. The patent had a book value of $6,000. However, the technology covered by the patent appeared to have significant market potential. Thus, the patent was appraised at $71,000. The accounts receivable control account was $35,000, with an allowance for doubtful accounts of $2,000. The partnership also assumed a $11,000 account payable owed to a Shallowford's supplier. Provide the journal entry for Renfro’s contribution to the partnership.