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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 $105,000 and $44,000, respectively.

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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 $105,000 and $44,000, respectively. Etter, with the consent of Santori, sells one-third of her interest to Lonnie Davis. a. What entry is required by the partnership if the sales price is $30,000? Myles Etter, Capital Lonnie Davis, Capital b. What entry is required by the partnership if the sales price is $40,000? Myles Etter, Capi Capital Lonnie Davis, Capital

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