The Struter Partnership has total partners' equity of $340,000, which is made up of Main, Capital, $238,000, and Frist, Capital, $102,000. The partners share net income and loss in a ratio of 77% to Main and 23% to Frist. On November 1, Adison is admitted to the partnership and given a 20% interest in equity and a 20% share in any income and loss.

How do I prepare journal entries in recording when Adison has a 20% interest in equity and the share of the income and loss is at 20%? How am I supposed to record the journal entries with investments of $85,000, $120,000, and $55,000 to where it has 20% as interest in the equity and it possibly has a 20% share in the income and/or loss?