Question: Please help me, with encoded or typed solution if possible thankyou 1. Give the journal entry to record the investment of the partners. (8 points)

Please help me, with encoded or typed solution if possible thankyou

1. Give the journal entry to record the investment of the partners. (8 points) Sanchez, Benitez and Alfonso agreed to form a partnership. Sanchez will invest P2,000,000 in cash, Benitez a computer with fair value of P80,000 and merchandise costing P1,300,000 which has a fair market value of P1,100,000 and Alfonso, a delivery van costing P1,000,000 on which a liability of P200,000 to Nissan Motors Inc still exists (this will be assumed by the partnership)

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