1 2 Partnerships +8/8 3 Part 1: Admission of a Partner 4 5 Carlos, Bradley, and Dawson are partners in CBD partnership. Ellen is to be admitted to the partnership 6 with a 20% interest in the business. The new name of the partnership is CBDE Partnership. 7 8 9 10 Carlos Bradley 11 Dawson 12 13 14 15 16 17 10 Capital Profit Loss Balance $170,000 Ratio 4:2:2 $ 150,000 $ 80,000 Ellen invests $120,000. Total capital to be $520,000, the partners use the bonus method. Record the journal entry to add Ellen to the partnership. Debit Credit