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6. On January 1, 2020 The KL partnership admitted a new partner Mallory. Mallory paid $200,000 cash for a one-third interest in the partnership. Prior
6. On January 1, 2020 The KL partnership admitted a new partner Mallory. Mallory paid $200,000 cash for a one-third interest in the partnership. Prior to the addmittance of Mallory; Kendra and Logan were 50%-50% partners. Kendra had a capital account balance of $100,000 and Logan had a capital account balance of $80,000, addmittance of Mallory. Prepare the journal entry to admit Mallory into the partnership. the
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