Debra and Merina sell electronic equipment and supplies through their partnership. They wish to expand their computer lines and decide to admit Wayne to the partnership. Debras capital is $190,000, Merinas capital is $152,000, and they share income in a ratio of 3:2, respectively.

P15-11 Part a

Required: Record Waynes admission for each of the following independent situations: a. Wayne directly purchases half of Merinas investment in the partnership for $97,000. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Journal entry worksheet A Record the purchase of one-half of Merina's investment for $97,000 by Wayne. Note: Enter debits before credits. Event General Journal Debit Credit Record entry Clear entry View general journal