Amjad and Ahmed, partners of Amjad and Ahmed LLP who share net income and losses 60% and 40%, respectively, had capital account balances of $70,000 and $60,000, respectively, on June 30, 2020. On that date Amjad and Ahmed agreed to admit Asaad to Amjad, Ahmed & Asaad LLP with a one-fourth interest in total partnership capital and a one-third share of net income or losses, for a cashinvestment of $30,000.the journal entry for the admission of Asaad include:

Select one:

a. Credit to Asaad capital $30,000.

b. Credit to cash $30,000.

c. Debit to cash $30,000.

d. Debit to Asaad capital $40,000.

Clear my choice