29) Chen and Wright are forming a partnership. Chen will invest a building 3 points that currently is being used by another business owned by Chen. The building has a fair market value of $65,000. Also, the partnership will assume responsibility for a $15,000 note secured by a mortgage on the building. Wright will invest $20,000 cash. On the books of the partnership, the amount to be recorded for the building and credit to Chen's capital account are: O $50,000 and $40,000 O $65,000 and $50,000. O $20,000 and $65,000. O $50,000 and $20,000. O $65,000 and $65,000