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1 1 Blake Kredell owns and operates a retail business called Blake's Camera Shop. His post closing trial balance on December 31, 2019, is provided below. Blake plans to enter into a partnership with Carmen Santos, effective January 1, 2020. Profits and losses will be shared equally. Blake will transfer all assets and liabilities of his store to the partnership, after revaluation. Santos will invest cash equal to Blake's investment after revaluation. The agreed values are: Accounts Receivable (net), $13,500; Merchandise Inventory, $33,000; and Store Equipment, $14,000. Skipped The partnership will operate under the name Picture Perfect. BLAKE'S CAMERA SHOP Post closing Trial Balance December 31, 2019 ACCOUNT NAME DEBIT CREDIT Cash $12,000 $ Accounts Receivable 14,000 Allowance for Doubtful Accounts 400 Merchandise Inventory 32,000 Store Equipment 18,000 Accumulated Depreciation-Store Equip. 14,000 Accounts Payable 11,000 Blake Kredeli, Capital 50, 600 Totals $76,000 $76,000 1. Record each partner's investment in a general journal. 2. Prepare a balance sheet for Picture Perfect after the investments. Complete this question by entering your answers in the tabs below. General Journal Balance Sheet Record each partner's investment of a general journal. General Journal Balance Sheet Record each partner's investment of a general journal. View transaction list Journal entry worksheet 1 2 > Record investment by Blake Kredell. Note: Enter debits before credits. General Journal Debit Credit Date Jan 01, 2020 Record entry Clear entry View general journal General Journal Balance Sheet Record each partner's investment of a general journal. View transaction list Journal entry worksheet

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