5. Jack L. and Mat following: Building, $7,950; Notes Payable on the building, $2,150; and Inventory, $790. Matthew contributes $1,200 of Accounts Receivable, which has an Allowance Matthew also contributes $970 of cash. Prepare the journal entry to record the contributions, whiclh occur on August 21, 2015. thew C. would like to combine businesses to form a partnership. Jack contributes the for Doubtful Accounts of $250. 6. Owen Dillard and Ryan Keller to the partnership: Equipment, $875; Building, $6,790; Notes Payable, $2,100; and Cash, $260. Keller contributes the following: Accounts Receivable, $900 with an allowance for doubtful accounts of $160; Inventory, $675, Cash, $125, and Accounts Payable, $250. Prepare the journal entry to record the partners' contributions on September 1, 2015. are looking to form a new partnership. Dillard contributes the following 7. Kelly R. and Rose C. formed a partnership in the previous year. In the agreement, each partner promises to perform services for the partnership. Kelly R. receives a $3,500 monthly salary while Rose C. receives a $4,000 monthly salary. For the 2015 fiscal year ending on September 30, 2015, the partnership earned a net income of $247,000. If the partnership income is divided among partners