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4. In the AB partnership (to which Daniel seeks admittance), the capital balances of Albert and Bert, who share income in the ratio of 5:3

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4. In the AB partnership (to which Daniel seeks admittance), the capital balances of Albert and Bert, who share income in the ratio of 5:3 are: Albert $550,000 Bert $300,000 Based on the preceding information, what amount of goodwill will be recorded if Daniel invests $350,000 for a twenty-five (25%) percent interest? Prepare the journal entry to record the admission of Daniel

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