q7

Zahra and Batool are partners in Z&B Partnership with initial investment of $360,000 and $240,000, respectively. They share income and loss by 3 : 2 ratio, respectively. They accepted Mariam as a new partner in the partnership Required: Prepare Journal entries to record the admission of Mariam who Invests cash of $160,000 in the partnership and receives 25% ownership Interest in the new partnership. YOUR ANSWER SHOULD BE IN THE FOLLOWING FORM, DO NOT USE" BETWEEN NUMBERS Dr Cash 100000 CI. Land 100000 For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac).