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In 2019, Selena Lopez invests cash of $110,000 in a newly formed partnership that will operate The Tennis Shop. In return, Lopez receives a one-third

In 2019, Selena Lopez invests cash of $110,000 in a newly formed partnership that will operate The Tennis Shop. In return, Lopez receives a one-third interest in the capital of the partnership. Prepare the general journal entry to record Lopez's investment in the partnership.

Journal entry worksheet

  • Record investment of cash by Lopez.

Note: Enter debits before credits.
Date General Journal Debit Credit
2019

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