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Meir, Benson, and Lau are partners and share income and loss in a 3:2.5 ratio (in percents: Meir, 30%Benson, 20%; and Lau, 50%). The partnership's
Meir, Benson, and Lau are partners and share income and loss in a 3:2.5 ratio (in percents: Meir, 30%Benson, 20%; and Lau, 50%). The partnership's capital balances are as follows: Melt $168,000, Benson, $138,000, and Lau, $294.000. 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 (0) $200,000 (6) $145,000, and (c) $262.000. (Do not round intermediate calculations.) View transaction list Journal entry worksheet 2 Record the admission of Rhode with an investment of $200,000 for a 25% interest in the equity Note: Enter debits before credits Transaction General Journal Dobil Credit Drau
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