Question 16 10 points Floyd Merriam start a partnership business on 06/12/19. Their capital account balances as of 12/31/19 is as follows: Floyd - $48.000: Merriam $18,000 They agreed to admit Ramelow into the business. Remelow contributes 516,000 cash in exchange for a one-third interest the partnership interest. Assume Floyd and Merriam shared profits and losses equally before the admission of Ramelow. Required: Record the journal Entry for the admission of Ramelow into the new partnership For the toolbar, press ALT F10 PC) OF ALTEN+F10 Mac) TTT Arla 31121 acco cred $16,000 Floyd, capital $5666 50 Merriam, capital 5566650 Ramelow.capital TI G O c