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Jim and John are partners who share profits 60% and 40%. Their capital balances were both $90,000 before Jane was admitted to the partnership. Jane
Jim and John are partners who share profits 60% and 40%. Their capital balances were both $90,000 before Jane was admitted to the partnership. Jane contributed $120,000 in cash to the partnership for a 30% interest.
Compute the capital balances of Jim and John after Betty is admitted to the partnership.
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