C. Held and G. Kamp decide to merge their proprietorships into a partnership called Heldkamp Company. The balance sheet of Kamp Co. shows:

Accounts receivable

$16,000

Less: Allowance for doubtful accounts

1,200

$14,800

Equipment

20,000

Less: Accumulated depreciation

8,000

12,000

The partners agree that the net realizable value of the receivables is $12,500 and that the fair value of the equipment is $10,000. Indicate how the four accounts should appear in the opening balance sheet of the partnership.