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Joumalize admission by investment (LO4) *BE12.8 In Eastwood Co., capital balances are Irey $40,000 and Pedigo $50,000. The part. ners share income equally. Vernon is

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Joumalize admission by investment (LO4) *BE12.8 In Eastwood Co., capital balances are Irey $40,000 and Pedigo $50,000. The part. ners share income equally. Vernon is admitted to the firm with a 45% interest by an invest. ment of cash of $58,000, Journalize the admission of Vernon

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