The Gant and Morris Partnership have partner capital account balances as follows:

Gant, Capital		$243,000
Morris, Capital		81,000

The partners share profit and losses in the ratio of 6:4.

Prepare the journal entry on the books of the partnership to record the admission of Lars as a new partner if Lars pays $134,500 to Gant and $48,500 to Morris for one-half of each of their ownership interest in a personal transaction. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

The Gant and Morris Partnership have partner capital account balances as follows: $243.000 Gant, Capital Morris, Capital 81,000 The partners share profit and losses in the ratio of 6:4. Prepare the journal entry on the books of the partnership to record the admission of Lars as a new partner if Lars pays $134,500 to Gant and $48,500 to Morris for one-half of each of their ownership interest in a personal transaction. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit e Textbook and Media Prepare the journal entry on the books of the partnership to record the admission of Lars as a new partner if Lars invests $198,000 in the partnership for a one-third interest in partnership capital. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit e Textbook and Media Prepare the journal entry on the books of the partnership to record the admission of Lars as a new partner if Lars invests $81,000 in the partnership for a one-third interest in partnership capital. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit