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(The following information applies to the questions displayed below.) Debra and Merina sell electronic equipment and supplies through their partnership. They wish to expand their
(The following information applies to the questions displayed below.) Debra and Merina sell electronic equipment and supplies through their partnership. They wish to expand their computer lines and decide to admit Wayne to the partnership. Debra's capital is $200,000, Merina's capital is $160,000, and they share income in a ratio of 3:2, respectively. g. Wayne invests $107,000 for a 20 percent interest. Goodwill is to be recorded. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet
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