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

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

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 P30,000 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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