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Assume that two individuals agree to form a partnership. Partner A is contributing the following assets and liabilities from a sole proprietorship business. Cash Receivables Inventories $120,000 160,000 200,000 Accounts payable. Accrued liabilities $160,000 120,000 Partner B is contributing cash of $280,000. The partners agree that the initial capital of the partnership should be shared equally. Required: A. How much is the initial capital (net assets) of the partnership? B. How much is each partner's initial capital? C. Prepare the journal entry to record the contributions of both partners if the partners wish to employ the Bonus Method