Exercise 12-2 K. Decker, S. Rosen, and E. Toso are forming a partnership. Decker is transferring $51,820 of personal cash to the partnership. Rosen owns land worth $11,520 and a small building worth $77,930, which she transfers to the partnership. Toso transfers to the partnership cash of $12,020, accounts receivable of $28,670 and equipment worth $22,810. The partnership expects to collect $25,803 of the accounts receivable.
Prepare the journal entries to record each of the partners' investments. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)