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BE12-8 In Eastwood Co., capital balances are Irey $40,000 and Pedigo $50,000. The part- ners share income equally. Vernon is admitted to the firm with

BE12-8 In Eastwood Co., capital balances are Irey $40,000 and Pedigo $50,000. The part- ners share income equally. Vernon is admitted to the firm with a 45% interest by an invest- ment of cash of $58,000. Journalize the admission of Vernon

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