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The capital accounts of John doe and tom Collins The capital accounts of John Doe and Tom Collins have balances of $100,000 and $90,000 respectively.
The capital accounts of John doe and tom Collins
The capital accounts of John Doe and Tom Collins have balances of $100,000 and $90,000 respectively. Jim Jones is to be admitted to the partnership. Jim Jones buys 25% of John Doe's interest for $27,500. Journalized the entry to record the admission What are the capital balances of each partner after the admission of the new partnerStep by Step Solution
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