Stein agrees to pay Choi and Amal $10,000 each for a one-third (3313%) interest in the Choi

Question:

Stein agrees to pay Choi and Amal $10,000 each for a one-third (331⁄3%) interest in the Choi and Amal partnership. Immediately prior to Stein’s admission, each partner had a $30,000 capital balance. Make the journal entry to record Stein’s purchase of the partners’ interest.

AppendixLO1

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