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Meir, Benton, and Leu are partners and share Income and loss In a 1:4:5 ratio. The partnership's capital balances are as follows Meir, $23,000; Benson.

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Meir, Benton, and Leu are partners and share Income and loss In a 1:4:5 ratio. The partnership's capital balances are as follows Meir, $23,000; Benson. $99,000; and Lau, $128,000. Benson decides to withdraw from the partnership, and the partners and the partners agree not to have the assets revalued upon Benson's retirement 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 of the following separate assumptions Rhode invests $83,333; $60, 033; and $109,106. (Do not round your Intermediate calculations) Record the admission of Rhode with an Investment of $83,333 for a 25% interest in the equity

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