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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 $ 1 4 1
Admitting New Partners
Myles Etter and Crystal Santori are partners who share in the income equally and have capital balances of $ and $ respectively. Etter, with the consent of Santori,
sells onethird of his interest to Lonnie Davis.
a What entry is required by the partnership if the sales price is $ If an amount box does not require an entry, leave it blank.
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a The sales price is not a partnership transaction, but a private transaction between the two partners.
b What entry is required by the partnership if the sales price is $ If an amount box does not require an entry, leave it blank.
Myles Etter, Capital
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b The sales price is not a partnership transaction, but a private transaction between the two partners.
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