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Admitting New Partners Myles Etter and Crystal Santori are partners who share in the income equally and have capital balances of $141,000 and $59,000,
Admitting New Partners Myles Etter and Crystal Santori are partners who share in the income equally and have capital balances of $141,000 and $59,000, respectively. Etter, with the consent of Sento, sels one third of her interest to Lonnie Davis a. What entry is required by the partnership if the sales price is $40,000? b. What entry is required by the partnership if the sales price is $60,0002
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