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The ABCD Partnership has the following balance sheet at January 1,2020 , prior to the admission of new partner, Eden. Eden acquired a 20% interest
The ABCD Partnership has the following balance sheet at January 1,2020 , prior to the admission of new partner, Eden. Eden acquired a 20% interest in the partnership by contributing a total of $71,500 directly to the other four partners. No goodwill is to be recorded. Profits and losses have previously been split according to the following percentages: Adams, 15%, Barnes, 35\%, Cordas, 30%, and Davis, 20\%. After Eden made his investment, what were the individual capital balances
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