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March 31, 2021, Mira Olynik and J.P. Dalton, the two partners of Kanko Datamatics, had capital account balances of $ 150,000 each. Sarah Lumas joined
March 31, 2021, Mira Olynik and J.P. Dalton, the two partners of Kanko Datamatics, had capital account balances of $ 150,000 each. Sarah Lumas joined the partnership on March 31, 2021 and received a 40% interest in the partnership in exchange for a capital contribution of $ 175,000. Record the transaction on March 31, 2021 admitting Lumas into the partnership.
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