Gant and Morris Partnership have partner capital account balances as follows: Gant, Capital Morris, Capital $176,400 58,800 The partners share profits and losses in the ratio of 6:4. Account Titles Prepare the journal entry on the books of the partnership to record the admission of Lars as a new partner if Lars pays $98,000 to Gant and $34,300 to Morris for one-half of each of their ownership interest in a personal transaction. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Debit Credit

Gant and Morris Partnership have partner capital account balances as follows: The partners share profits and losses in the ratio of 6:4. Prepare the journal entry on the books of the partnership to record the admissicn of Lars as a new partner if Lars pays $98,000 to Gant and $34,300 to Morris for one-half of each of their ownership interest in a personal transaction. (Credit occount titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account tibles and enter Of or the amounts)