Horton invests personally owned equipment, which originally cost $110,000 and has accumulated depreciation of $30,000 in the horton and matile partnership. both partners agree that the fair market value of the equipment was $60,000. the entry made by the partnership to record horton's investment should be a. equipment 110,000 accumulated depreciation—equipment 30,000 horton, capital 80,000 b. equipment 80,000 horton, capital 80,000 c. equipment 60,000 loss on purchase of equipment 20,000 accumulated depreciation—equipment 30,000 horton, capital 110,000 d. equipment 60,000 horton, capital 60,000