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Take me to the text Rocky, Rita and Rachel are all partners who operate a beauty salon called RB Beauty. On February 2, 2020, Rocky,
Take me to the text Rocky, Rita and Rachel are all partners who operate a beauty salon called RB Beauty. On February 2, 2020, Rocky, Rita and Rachel had a capital balance of $313,000, $204,000 and $371,000 respectively. Due to the successful growth of the business, the original partners have agreed to add an additional partner, Rhea. Rhea will be investing $289,000 cash in the business. Do not enter dollar signs or commas in the input boxes. a) Calculate the new capital balance for each partner after Rhea has been added to the partnership. Rocky Capital balance before admission Admission of new partner Rita Capital balance after admission b) Prepare the journal entry to record the admission of Rhea. Date Account Title and Explanation Feb 2 To record the admission of new partner Rachel Debit Credit Rhea Total
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