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Meir, Benson, and Lau are partners and share income and loss in a 23:5 ratio (in percents Melr, 20%, Benson, 30%, and Lau, 50%). The

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Meir, Benson, and Lau are partners and share income and loss in a 23:5 ratio (in percents Melr, 20%, Benson, 30%, and Lau, 50%). The partnership's capital balances are as follows: Meir, $48,000; Benson, $74,000, and Lau, $128,000 Benson decides to withdraw from the partnership 2. Assume that Benson does not retire from the partnership described in Part 1. Instead, Rhode is admitted to the partnership on February 1 with a 25% equity. Prepare journal entries to record Rhode's entry into the partnership under each separate assumption Rhode invests (a) $83,333, (b) $60,833, and ($109.166 (Do not round your intermediate calculations.) View transaction list Journal entry worksheet Record the admission of Rhode with an investment of $60,833 for a 25% interest in the equity. Note: Enter debits before credits. General Journal Transaction (b) Debit Credit Record entry Clear entry View general journal Journal entry worksheet 1 2 2 3 > Record the admission of Rhode with an investment of $109,166 for a 25% interest in the equity. Note: Enter debits before credits. Transaction (c) General Journal Debit Credit Record entry Clear entry View general journal

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