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Can someone help me please conret Mike Derr and Mark Finger...

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Accounting

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conret Mike Derr and Mark Finger form a partnership by combining assets of their separate businesses. The f lowing balance sheet information is provided by Derr from his sole proprietorship. Recording partnership 1 Cash 2 Supplies 1,000 Accounts payable Notes payable Total liabilities 4,500 3,100 7 600 3,000 4 Less: Accumulated depreciation-Equip. 9.000 2,000 4,000 $10,000 P1 $11,000 5 Land 2400 Capialequity S00 Total liabilities and equity $10.000 Total assets M. Derr, The new partners obtain appraised values and agree to accept the book values for Derr's assets and I ities except for the following: Equipment is valued at $5,000, and land is worth $8,000. Required Prepare the partnership's journal entry to record Derr's investment

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