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Pena limited liability company (LLC) has two members, Sophia and Maria, who share net income and loss equally Total equity of the business is

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Pena limited liability company (LLC) has two members, Sophia and Maria, who share net income and loss equally Total equity of the business is $108,000, which is made up of Sophia, Member Equity, of $64,000, and Maria, Member Equity, of $44,000 During the year, Juan invests $34,000 and is admitted to Pena limited liability company (LLC) with a 20% interest in equity and a 20% share in any income and loss. Prepare the entry to record the admission of Juan to the limited liability company (LLC), using the "Juan, Member Equity account A No Transaction 1 Answer is not complete. General Journal Debit Credit Cash Mania, Member equity Sophia, Member equity Juan, Member equity Juan, Member equity 00000 34,000 800 20,800 21,600

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