Mike Derr and Mark Finger form a partnership by combining assets of their separate businesses. The following balance sheet information is provided by Derr from his sole proprietorship. Cash $1,800 Accounts payable $5,300 Supplies 3,800 Notes payable 3,900 Equipment $15,000 Total liabilities 9,200 Less: Accumulated depreciation—Equip. 12,200 2,800 Land 4,800 M. Derr, Capital 4,000 Total assets $ 13,200 Total liabilities and equitY$ 13,200 The new partners obtain appraised values and agree to accept the book values for Derr’s assets and liabilities except for the following: Equipment is valued at $5,800, and land is worth $8,800.RequiredPrepare the partnership’s journal entry to record Derr’s investment. Journal entry worksheetRecord investment of Derr. Note: Enter debits before credits.