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Kim Locke and Mary Leigh Coker have capital accounts of $430,000 and $484,000, respectively. Jeff Doggett and Danny Cambrey are to join the partnership. Doggett

Kim Locke and Mary Leigh Coker have capital accounts of $430,000 and $484,000, respectively. Jeff Doggett and Danny Cambrey are to join the partnership. Doggett invests $515,000 in the partnership for which he receives a capital credit of $515,000. Cambrey purchases a one-half interest from Locke for $315,000 and a one-fourth interest from Coker for $94,000.

(a)

Prepare the journal entries to record the admission of Doggett and Cambrey to the partnership. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.)

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