PLEASE MAKE SURE YOU ANSWER THE LAST PART. YOU ARE HURTING ME INSTEAD OF HELPING ME. ANSWER REQUIREMENT 2 NOT THE ONE BEFORE.

On December 31, 2024, Dacres and Gong agree to combine their sole proprietorships into a partnership. Their balance sheets on December 31 are shown as follows: Requirement 1. Journalize the contributions of Dacres and Gong to the partnership (Record debits first, then, credits. Select explanations on the last line of the journal entry table.) Journalize the contribution of Dacres. Date Accounts and Explanation Debit Credit Dec. 31 Cash Merchandise Inventory 13,000 50,000 107,000 20,000 Plant Assets Accounts Receivable Accounts Payable Other Accrued Payables Notes Payable Dacres, Capital 29,000 14,000 51,000 96,000 To record Dacres' contribution, Journalize the contribution of Gong. Date Debit Credit Dec. 31 Accounts and Explanation Cash Accounts Receivable Merchandise Inventory Plant Assets Accounts Payable Gong, Capital 11,000 11,000 33,000 49,000 13,000 91,000 To record Gong's contribution Requirement 2. Prepare the partnership balance sheet at December 31, 2024. (lf a box is not used in the table leave the box empty, do not select a label or enter a zero.) Dacres and Gong Balance Sheet December 31, 2024 Assets Cash Accounts Receivable Merchandise Inventory Plant Assets, Net Total Assets Data table Dacres's Business Gong's Business Current Current Market Book Value Market Value Book Value Value Assets $ $ 11,000 13,000 $ 22,000 Cash Accounts Receivable Merchandise Inventory Plant Assets, Net 13,000 $ 20,000 50,000 107,000 11,000 $ 13,000 33,000 45,000 56,000 125,000 11,000 33,000 49,000 $ $ 216,000 $ 190,000 $ 102,000 $ 104,000 $ 13,000 $ 13,000 Total Assets Liabilities and Owner's Equity Accounts Payable Other Accrued Payables Notes Payable Dacres, Capital 29,000 $ 14,000 29,000 $ 14,000 51.000 51,000 122,000 ? 89,000 ? Gong, Capital $ 216,000 $ 190,000 $ Total Liabilities and Owner's Equity 102,000 $ 104,000