Jesse and Tim form a partnership by combining the assets of their separate businesses. Jesse contributes accounts receivable with a face amount of $46,000 and equipment with a cost of $176,000 and accumulated depreciation of $99,000. The partners agree that the equipment is to be valued at $67,700, that $3,700 of the accounts receivable are completely worthless and are not to be accepted by the partnership, and that $1,700 is a reasonable allowance for the uncollectibility of the remaining accounts receivable. Tim contributes cash of $20,500 and merchandise inventory of $44,500. The partners agree that the merchandise inventory is to be valued at $48,000. Journalize the entries in the partnership accounts for (a) Jesses investment and (b) Tims investment