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6.) Darcy and Enid share partnership profit on a 3:2 basis. They have capital balances of $170,000 and $90,000 respectively. Prepare the journal entry to
6.) Darcy and Enid share partnership profit on a 3:2 basis. They have capital balances of
$170,000 and $90,000 respectively. Prepare the journal entry to record the admission of Frank
under each of the following assumptions:
A) Frank invests $40,000 for a 25% ownership interest.
B) Frank invests an amount that gives him a 20% ownership interest.
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