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Assume that on January 1st, Kendal agrees to pay $4,000 to each of Josh and Jeremy for one-third of their interest in JK partnership, At

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Assume that on January 1st, Kendal agrees to pay $4,000 to each of Josh and Jeremy for one-third of their interest in JK partnership, At the time of Kendal's admission, each partner has a $12,000 capital balance. What is the effect on the partnership's cash account? O debit of $8,000 credit of $8,000 O debit of $4,000 no impact to the cash account

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