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Talent, a local HR consulting firm, has total partners' equity of $762,000, which is made up of Hall, Capital, $601,000, and Reynolds Capital. $161,000. The

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Talent, a local HR consulting firm, has total partners' equity of $762,000, which is made up of Hall, Capital, $601,000, and Reynolds Capital. $161,000. 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 unretated assumptions, in which Morris invests cash of: a. $190,500 View transaction list Journal entry worksheet Record the admission of Morris Note: Enter debit before credits General Journal Debit Credit Date July 01 b. $231,000 View transaction list Journal entry worksheet

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