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 Supplies Equipment Less: Accumulated depreciation-Equip. Land Total assets $2,900 Accounts payable $ 6,400 5,000 11,400 4,900 Notes payable $20,500 16.600 Total liabilities 3,900 5, M. Derr, Capital 6,200 $ 17,660 Total liabilities and equity 17,660

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 $6,900, and land is worth $9,900.
Required
Prepare the partnership’s journal entry to record Derr’s investment.