Assume that oartners A and B each report a Capital Account of $$525000.$

Change of partners Assume that Partners A and B each report a Capital Account of $250,000. Partner A wants to retire and sell her partnership interest to Partner C for $300,000. Partner B agrees to the sale and admission of Partner C into the partnership at an equal ownership percentage. Record the journal entry on the books of the partnership to reflect the admission of Partner C using both the Bonus Method and the Goodwill Method. Bonus Method: General Journal Description Goodwill Method: Debit General Journal Credit Credit Description Partner 8, Capital To record implied Goodwill. Debit