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2005 January 1 - McNabb joins the partnership. He is anxious to join, and agrees to pay $46 000 for a 20% share of the

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2005 January 1 - McNabb joins the partnership. He is anxious to join, and agrees to pay $46 000 for a 20% share of the business, with the bonus to the existing partners. Brady, Manning and McNabb agree to salaries of $5000 for each partner and a 5:4:3 income ratio. Show the entry to admit the new partner into the business

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