Edwin and Darren Have Decided to Form a Partnership

Edwin and Darren have decided to form a partnership. Edwin contributes $80,000 cash and merchandise inventory with a current market value of $20,000. Darren contributes $2,100 cash and office furniture with a current market value of $2,800. While journalizing this transaction:

A) Office Furniture will be debited for $1,120.
B) Office Furniture will be credited for $2,800.
C) Office Furniture will be debited for $2,800.
D) Office Furniture will be credited for $1,120.

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