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The partners in the Majesty partnership have agreed that partner Prince may sell his $146,000 equity in the partnership to Queen, for which Queen will
The partners in the Majesty partnership have agreed that partner Prince may sell his $146,000 equity in the partnership to Queen, for which Queen will pay Prince $116,000. Present the partnership's journal entry to record the sale on April 30. View transaction list Journal entry worksheet 1 Record the admission of Queen. Note: Enter debits before credits. Date General Journal Debit Credit Apr 30 Prince, capital Queen, capital 146,000 1460001 Record entry Clear entry View general journal
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