Henry Jones Contributed Equipment, Inventory, and $44,000 Cash to a Partnership

Multiple Choice

Henry Jones contributed equipment, inventory, and $44,000 cash to a partnership. The equipment had a book value of $35,000 and market value of $28,000. The inventory had a book value of $25,000 but only had a market value of $12,000 due to obsolescence. The partnership also assumed a $15,000 note payable owed by Henry that was originally used to purchase the equipment.​What amount should be recorded to Henry's capital account?

A) $104,000
B) $89,000
C) $69,000
D) $84,000