Use the following information to answer the following questions.
Steven contributed a building, inventory, and $65,000 cash to a partnership. The building had a book value of $250,000 and a market value of $275,000. The inventory had a book value of $40,000, and a market value of $28,000. The partnership also assumed a $170,000 mortgage note payable owed by Smith that was used originally to purchase the equipment. (Enter answers in whole numbers, no decimals, no currency sign; example 50,000).
a. What debit amount will be recorded to the inventory account? $
b. What debit amount will be recorded to building account? $
c. What credit amount will be recorded to Steven's capital account? $
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