admission of the new partner, Jack Tilton:

View the independent situations.

$($Record debits first, then credits. Exclude explanations from joumal entries.$)$

Situation $1$: Titon purchased Becker's interest for $$5,700,$ paying it personally to Becker.

$\backslash$table$[[$Date$,$Account Titles,Debit,Credit$],[,,,],[,,,],[,,,],[,,,],[,,,]]$

Situation $2.$ Tilton invested an amount exactly equal to one$-$third interest in the partnership.

$\backslash$table$[[$Date$,$Account Titles,Debit,Credit$],[,,,],[,,,],[,,,],[,,,]]$

Situation $3$: Tilton invested $$1,500$ for a one$-$third interest. Milk and Becker share the bonus.

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