Vanessa Kaiser and Mariah Newman decide to form a partnership by combining the assets of their separate businesses. Kaiser contributes the following assets to the partnership: cash, $25,800; accounts receivable with a face amount of $187,600 and an allowance for doubtful accounts of $5,400; merchandise inventory with a cost of $118,900; and equipment with a cost of $175,800 and accumulated depreciation of $58,200. The partners agree that $6,000 of the accounts receivable are completely worthless and are not to be accepted by the partnership, that $5,700 is = reasonable allowance for the uncollectibility of the remaining accounts, that the merchandise inventory is to be recorded at the current market price $131,400, and that the equipment is to be valued at $104,900.

Required:
Journalize the partnership's entry to record Kaiser's investment.