FULL SCREEN PRINTER VERSION BACK NEXT WileyPLUS Problem 12-9 (Part Level Submission) Mo Mulder and Molly Munchkin operate separate hobby shops. On April 8, 2021, they decide to combine their businesses, which had been operated as proprietorships, to form Mo & Molly Partnership. Information from their separate balance sheets is presented below: Cash Accounts receivable Allowance for doubtful accounts Accounts payable Equipment Accumulated depreciation equipment Mo's Models Molly's Crafts $10,000 $4,600 2,100 1,200 250 200 1,450 900 2,100 1,100 900 600 It is agreed that the expected realizable value of Mo's accounts receivable is $1,300 and Molly's receivables is $1,000. The fair market value of Mo's equipment is $1,000 and Molly's equipment is $600. It is further agreed that the new partnership will assume all liabilities of the proprietorships. Prepare the journal entries necessary to record the formation of the partnership. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Apr 8, 2021 (To record Mo's Models) Apr 8, 2021 (To record Molly's Crafts By accession this question Assistance will team while var inte based on the point potential Dolor set har var instructor