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7.5/15 Question 4 of 6 View Policies Show Attempt History Current Attempt in Progress Foss, Albertson, and Espinosa are partners who share profits and losses

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7.5/15 Question 4 of 6 View Policies Show Attempt History Current Attempt in Progress Foss, Albertson, and Espinosa are partners who share profits and losses 50%, 30%, and 20%, respectively. Their capital balances are 107,000, $ 65,000, and $ 34,000, respectively. (a) Your amwer is correct Assume Garrett joins the partnership by investing $ 82,400 for a 25% interest with bonuses to the existing partners. Prepare the Journal entry to record his investiment. (Credit account titles are automatically Indented when amount is entered. Do not Indent manually) Account Tities and Explanation Debit Credit (6) Assume instead that Foss leaves the partnership. Foss is paid $ 135,000 with a bonus to the retiring partner. Prepare the journal entry to record Foss's witharawal. (Credit account titles are outomatically Indented when amount is entered. Do not rident manual Account Tities and Explanation Debit Credit

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