Jesse and Tim form a partnership by combining the assets of their separate businesses. Jesse contributes accounts receivable with a face amount of $$50,000$ and equipment

with a cost of $$177,000$ and accumulated depreciation of $$96,000.$ The partners agree that the equipment is to be valued at $$68,500,$ that $$3,600$ of the accounts receivable

are completely worthless and are not to be accepted by the partnership, and that $$1,500$ is a reasonable allowance for the uncollectibility of the remaining accounts receivable.

Tim contributes cash of $$20,000$ and inventory of $$45,000.$ The partners agree that the inventory is to be valued at $$48,500.$

Journalize the entries in the partnership accounts for $($a$)$ Jesse's investment and $($b$)$ Tim's investment. If an amount box does not require an entry, leave it blank.

a$.$

b$.$