Exercise 12-11 Admission of new partner LO P3 The Struter Partnership has total partners' equity of $680,000, which is made up of Main, Capital, $476,000, and Frist, Capital, $204,000. The partners share net income and loss in a ratio of 80% to Main and 20% to Frist. On November 1, Adison is admitted to the partnership and given a 20% Interest in equity and a 20% share in any income and loss. Prepare Journal entries to record the admission of Adison for a 20% interest in the equity and a 20% share in any income and loss under independent assumption (1) Record the admission of Adison with an investment of $170,000 for a 20% Interest in the equity and a 20% share in any income and loss. (2) Record the admission of Adison with an investment of $205,000 for a 20% interest in the equity and a 20% share in any income and loss (3) Record the admission of Adison with an investment of $140,000 for a 20% interest in the equity and a 20% share in any income and loss View transaction list Journal entry worksheet