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QUESTION 8 Investment in a Partnership: Bonus to New Partner A, B,& C, are Partners in the ABC Partnership and share Profits and Losses in

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QUESTION 8 Investment in a Partnership: Bonus to New Partner A, B,& C, are Partners in the ABC Partnership and share Profits and Losses in the ratio of 1: 2:3. Their Capital account balances are: A Cap $50,000 B Cap 35,000 C Cap 25,000 Mr. D. a Whizkid on Wall Street, is invited to join the partnership and he contributes $10,000 for a 30% interest in the Partnership. REQUIRED: Record the Journal Entry for the Admission of Mr. D. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). T T T Arial 3 (12pt) T s

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