For several years, Thomas Klammer had operated Management Consulting Company as its sole proprietor. On January 1, 20X1, he formed a partnership with Robert Michaelson to operate the company under the name Klammer-Michaelsen Professional Management Consultants. Pertinent terms of the partnership agreement are as follows: 1. Klammer will transfer to the partnership the accounts receivable, merchandise inventory, furniture and equipment, and all liabilities of the sole proprietorship in return for a partnership interest of 60 percent of the partnership capital. Assets were appraised and transferred to the partnership at the appraised values. Balances in the relevant accounts of Klammer's sole proprietorship at the close of business on December 31, 20X0, are shown below: Accounts Receivable Allowance for Doubtful Accounts Merchandise Inventory Furniture and Equipment Allowance for Depreciation-Furniture & Equipment Accounts Payable The two parties agreed to the following: . There were unrecorded accounts payable of $4,200. $ 136,000 Debit 8,100 Credit 192,000 Debit 121,100 Debit 76,800 Credit 26,500 Credit • Accounts receivable of $6,300 were definitely uncollectible and should not be transferred to the partnership. • The value of Allowance for Doubtful Accounts should be $8,500. The appraised value of Merchandise Inventory was $177,000. • The appraised value of Furniture and Equipment was $36,500. 2. In return for a 40 percent interest in partnership capital, Michaelson invested cash in an amount equal to two-thirds (.667) of Klammer's net investment in the business. 3. Each partner was allowed a salary payable on the 15th day of each month. Klammer's salary will be $9,300 per month and Michaelson's salary will be $8,440 per month. 4. The partners were to be allowed interest of 10 percent of their beginning capital balances. 5. No provision was made for profit division except for the salaries and interest previously discussed. 6. The partnership's revenues for the year 20X1 were $2,259,000, and expenses were $1,805,500. Payments for salary allowances were charged to the partners' drawing accounts. Required: 1. Record the following information in general journal form in the partnership's records: a. Receipt of assets and liabilities from Klammer. b. Investment of cash by Michaelson. c. Summary of cash withdrawals for salaries by the two partners during the year