Jack and Will Decide to Form the JW Partnership Net Accounts

Jack and Will decide to form the JW Partnership.On January 1,2017,they combine their assets with the following current market values and book values:
$\begin{array}{c}&&&&&&\text {Jack's assets}&&&\text {Will's assets}\\\end{array}\\\begin{array}{llll}&\text { Book } & \text { Market } & \text { Book } & \text { Market } \\&\text { value } & \text { value } & \text { value } & \text { value }\\\text { Cash }&\$100,000&\$100,000&\$95,000&\$95,000\end{array}$
Net accounts
$\begin{array}{lllll}\text { receivable } & 39,000 & 37,000 & 28,000 & 23,000 \\\text { Inventory } & 60,000 & 75,000 & 55,000 & 72,000 \\\text { Land } & 50,000 & 80,000 & 75,000 & 90,000 \\\text { Buildings } & 80,000 & 70,000 & 90,000 & 75,000\end{array}$ Accumulated
$\begin{array}{cllll}\text { amortization } & 25,000 & \cdots & 30,000 & \cdots \\\text { Accounts payable } & 18,000 & 18,000 & 25,000 & 25,000\end{array}$ Journalize the entries on January 1,2017,to record the partners' initial investments.