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Thao and Leslie are partners who share profits 60% and 40%. Their capital balances were both $120,000 before Kiley was admitted to the partnership. Kiley
Thao and Leslie are partners who share profits 60% and 40%. Their capital balances were both $120,000 before Kiley was admitted to the partnership. Kiley contributed $160,000 in cash to the partnership for a 30% interest.
Journalize the admission of Kiley.
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