L. Wacker, V. Saenz, and E. Rothe are partners with capital balances of $88,000, $83,000, and $74,000,

Question:

L. Wacker, V. Saenz, and E. Rothe are partners with capital balances of $88,000, $83,000, and $74,000, respectively. Rothe sells his interest in the company for $85,000 to P. Skou. Wacker and Saenz have consented to the new partner. Record the journal entry for the admission of Skou on April 8.