Talent, a local HR consulting firm, has total partners' equity of $768,000, which is made up of Hall, Capital, $604,000, and Reynolds, Capital, $164,000. The partners share profit(losses) in a ratio of 80% to Hall and 20% to Reynolds, On July 1, Morris is admitted to the partnership and given a 20% interest in equity. Required: Prepare the journal entry to record the admission of Morris under each of the following unrelated assumptions, in which Morris invests cash of: a. $192,000 View transaction list Journal entry worksheet 1 Record the admission of Morris. The question related to this reference involve a normal product. 1.Increase in price A. Increase in quantity 2. Decrease in price B. Decrease in quantity traded 3. No change in price C. No change in quantity traded 4 Indeterminate price D. Indeterminate quantity traded Refer to the above information to answer this question. What would be the effect on a product if both the demand and supply were to increase? O 2 and A 4 and A 3 and C 4 and D 0 1 and A