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K. Kolmer, C. Eidman, and C. Ryno share income on a 5:3:2 basis. They have capital balances of $34,000, $26,000, and $21,000, respectively. Don Jernigan
K. Kolmer, C. Eidman, and C. Ryno share income on a 5:3:2 basis. They have capital balances of $34,000, $26,000, and $21,000, respectively. Don Jernigan is admitted to the partnership by Purchase of 20% of Eidman's equity for $12,000. The entry to record this admission includes a:
Select one:
a. debit to cash 12000
b. debit to C. Eidman, Capital 12000
c. credit to D. Jernigan, Capital 5200
d. credit to D. Jernigan, Capital 12000
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