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Exercise 17A4 L. White, V. Sabin, and E. Rackhaus are partners with capital balances of $92,000, $81,000, and $69,000, respectively. Rackhaus sells his interest in

Exercise 17A4 L. White, V. Sabin, and E. Rackhaus are partners with capital balances of $92,000, $81,000, and $69,000, respectively. Rackhaus sells his interest in the company for $90,000 to P. Solvay. White and Sabin have consented to the new partner. Record the journal entry for the admission of Solvay on April 8.

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