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In Sheridan Co., the capital balances of the partners are A. Ali $31,450; S. Babson $24,565; and K Carter $37,100. The partners share profit equally.

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In Sheridan Co., the capital balances of the partners are A. Ali $31,450; S. Babson $24,565; and K Carter $37,100. The partners share profit equally. On June 9 of the current year, D. Dutton is admitted to the partnership by purchasing one half of K. Carter's interest for $19,060 paid to him personally, Journalize the admission of Dutton on June 9. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit June 2 (To record admission of partner)

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