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Bobbi and Stuart are partners, The partnership capital of Bobbi is $40,000 and Stuart is $70,000. Bobbi sells his interest in the partnership to John

Bobbi and Stuart are partners, The partnership capital of Bobbi is $40,000 and Stuart is $70,000. Bobbi sells his interest in the partnership to John for $50,000. Provide the journal entry to record the admission of John as a new partner.

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