Myles Etter and Crystal Santori are partners who share in the income equally and have capital balances of $231,000 and $97,000, respectively. Etter, with the consent of Santori, sells one-third of his interest to Lonnie Davis.

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a. What entry is required by the partnership if the sales price is $60,000? If an amount box does not require an entry, leave it blank.

blankCashCrystal Santori, CapitalLonnie Davis, CapitalMyles Etter, CapitalMyles Etter, Drawing- Select -- Select - CashCrystal Santori, CapitalLonnie Davis, CapitalLonnie Davis, DrawingMyles Etter, Capital- Select -- Select -

Question Content Area

b. What entry is required by the partnership if the sales price is $90,000? If an amount box does not require an entry, leave it blank.

blankCashCrystal Santori, CapitalLonnie Davis, CapitalMyles Etter, CapitalMyles Etter, Drawing- Select -- Select - Crystal Santori, CapitalLonnie Davis, CapitalLonnie Davis, DrawingMyles Etter, CapitalMyles Etter, Drawing- Select -- Select