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Hannah, Marnie, and Jessa have operated a partnership as filmmakers for a number of years. The partnership agreement states that they share profits and losses
Hannah, Marnie, and Jessa have operated a partnership as filmmakers for a number of years. The partnership agreement states that they share profits and losses equally. At the end of the year, after allocation of profits, the partners have the following capital account balances:
Hannah
$
Marnie
Jessa
To ease their workload, Hannah, Marnie, and Jessa have decided to admit Shoshanna as a partner in return for a contribution of $ What is the journal entry to record Shoshannas admission to the partnership?
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