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A and B are partners with initial investment of $60,000 and $40,000 respectively. They share income and loss by 60% for A and 40% for

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A and B are partners with initial investment of $60,000 and $40,000 respectively. They share income and loss by 60% for A and 40% for B. They accepted as a new partner partnership Required: Record the admission of under each of the following separate assumptions: (1) purchased one-half of A's interest for $35,000 cash. (2) Curvests cash of $10,000 in the partnership and receives 25% ownershup interest in the new partnership YOUR ANSWER SHOULD BE IN THE FOLLOWING FORM, DO NOT USE BETWEEN NUMBERS Dr. Cath 100000 C Land 100000

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