(d) Gurkirat and Hardeep allow Harkamal to join their partnership for ( $ 80,000 ) cash. The recorded value of the equity being purchased is ( $ 70,000 ). Prepare the journal entry to record the admission of Harkamal to the partnership. Assume the partners have no agreem ent for sharing profits and losses. ( 4 marks)

(d) Gurkirat and Hardeep allow Harkamal to join their partnership for $80,000 cash. The recorded value of the equity being purchased is $70,000. Prepare the journal entry to record the admission of Harkamal to the partnership. Assume the partners have no agreem ent for sharing profits and losses. (4 marks)