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Sheridan Co. capital balances are Barr $34,200, Croy $26,800, and Eubank $16,700. The partners share income equally. Tovar is admitted to the firm by
Sheridan Co. capital balances are Barr $34,200, Croy $26,800, and Eubank $16,700. The partners share income equally. Tovar is admitted to the firm by purchasing one-half of Eubank's interest for $11,600. Journalize the admission of Tovar to the partnership. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit
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1 Original Capital Balances Barr 34200 Croy 26800 Eubank 16700 2 Partnership Agreement Partners shar...
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Accounting Principles
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
11th Edition
111856667X, 978-1118566671
