Stouse has a capital balance of $35,000; Saxton's balance is $22,000. Hamner pays $100,000 to purchase Saxton's interest in the Stouse & Saxton partnership. Saxton receives the full $100,000. Read the requirements. Requirements Requirement 1. Journalize the partnership's transaction to admit Hamner to the partnership. (Record debits first, then credits. Se Date Accounts and Explanation Debit Credit 1. Journalize the partnership's transaction to admit Hamner to the partnership. 2. Must Stouse accept Hamner as a full partner? What rights does Hamner have after purchasing Saxton's interest in the partnership? Print Done Requirement 2. Must Stouse accept Hamner as a full partner? What rights does Hamner have after purchasing Saxton's interest in the partnership? O A. Stouse must accept Hamner into the partnership. Hamner automatically becomes a partner with the full rights and benefits that any other partner has according to the partnership agreement OB. Stouse has the right to refuse to accept Hamner into the partnership. Hamner must go through a thirty day trial period to ensure his ideas of the partnership are similar to the other partners. Any partner who owns more than 50% of the partnership must also agree to accept Hamner as a full partner. Partner's owning less than 50% can voice their opinion; however, it is not mandatory to take their vote into account. O C. Stouse must accept Hamner into the partnership. After Hamner purchases Saxton's interest in the partnership, he has up to thirty days to inform the other partners of any changes he would like to make. If these changes are not approved unanimously, Hamner can terminate his purchase into the partnership. OD. Stouse has the right to refuse to accept Hamner into the partnership. After being accepted into the partnership and purchasing the partnership interest of Saxton, Hamner has the full rights of a partner. However, Stouse has to agree to this change. Cameron Blair, a friend from college, asks you to form a partnership to import fragrances. Since graduating, Blair has worked for the Spanish Embassy, developing important contacts among government officials. Blair believes she is in a unique position to capitalize on an important market. With expertise in accounting, you would have responsibility for the partnership's accounting and finance. List the seven items that would need to be incorporated into the written partnership agreement 1. Seven items that would need to be incorporated into the written partnership agreement Name, location, and nature of business Name, capital contribution, and duties of each partner Procedures for admitting a new partner Method of sharing profits and losses among the partners 2. 3. 4. 5. 6. 7