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Raleigh and Richmond are partners who share income equally. They have decided to let Pittsburgh join their partnership. Before admitting Pittsburgh, Raleigh had a capital

Raleigh and Richmond are partners who share income equally. They have decided to let Pittsburgh join their partnership. Before admitting Pittsburgh, Raleigh had a capital balance of $30,000 and Richmond had a capital balance of $50,000. Pittsburgh makes a $20,000 cash payment to the partnership and is given a 10% interest. Immediately after admitting Pittsburgh to the partnership, the balance in Raleigh's capital account would be:
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