Smith contributed $20,000 cash to a new partnership, while J. West contributed cash of $28,000 and office equipment which cost $16,000 (with a current market value of $13,000). The journal entry to record the partnership investments of Smith and West is Multiple Choice Account Title Cash office Equipment s. Smith, Capital J. West, Capital Account Title Cash office Equipment S. Smith & J. West, Capital Account Title Smith & West Partnershin Debit $ 48,000 16,000 Debit $ 48,000 13,000 Debit & 64.000 Credit $ 20,000 44,000 Credit $ 64,000 Credit

Smith contributed $20,000 cash to a new partnership, while J. West contributed cash of $28,000 and office equipment which cost $16,000 (with a current market value of $13,000 ). The journal entry to record the parthership investments of Smith and West is Multiple Choice \begin{tabular}{|crr|} \hline Account Title & Debit & credit \\ Cash & $48,000 & \\ Office Equipment & 16,000 & \\ S. Smith, Capital & & $20,000 \\ J. West, Capital & & 44,000 \end{tabular} \begin{tabular}{lrr|} \multicolumn{1}{c}{ Account Title } & Debit & Credit \\ Cash & $48,000 & \\ office Equipment & 13,000 & \\ \$. Smith \& J. West, Capital & & $64,000 \end{tabular} \begin{tabular}{lrr} \multicolumn{1}{c}{ Account Title } & Debit & credit \\ Cash & $48,000 & \\ office Equipment & 13,000 & \\ S.Smith, Capital & & $20,000 \\ J. West, Capital & & 41,000 \end{tabular}