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P1, P2, and P3 are partners in XYZ Inc. Their capital balances on Dec 31, Year 5, are $239,055 for P1, $332,049 for P2, and

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P1, P2, and P3 are partners in XYZ Inc. Their capital balances on Dec 31, Year 5, are $239,055 for P1, $332,049 for P2, and $175,969 for P3. Among these partners on this date, the income sharing ratios are 38.05% for P1, 40,30% for P2, and the remainder for P3. On Jan 1, Year 6, a new partner P4 invests $140,555 in XYZ Inc for a one-fifth (20%) interest in capital. In the journal entry to admit the new partner P4, how much capital will be credited or debited to P3 on Jan 1 using the BONUS method? O a $8,404 Ob $8,604 C. $8,204 d $8,004 e $8,805

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