The Struter Partnership has total partners' equity of $380,000, which is made up of Main, Capital, $260,000, and Frist, Capital, $120,000. The partners share net income and loss in a ratio of 70% to Main and 30% 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. Assume Adison invests cash of $130,000. what would be the journal entry to record the admission of Adison. Cr. Cash 130,000; Dr. Adison, Capital 102,000; Dr. Main, Capital 19,600; Dr. Frist, Capital 8,400 None of the entries is correct Dr. Cash 130,000; Cr. Adison, Capital 102,000; Cr. Main, Capital 19,600; Cr. Frist, Capital 8,400 Dr. Cash 130,000; Dr. Adison, Capital 102,000; Cr. Main, Capital 19,600; Cr. Frist, Capital 8,400 A

The Struter Partnership has total partners' equity of $380,000, which is made up of Main, Capital, 5260,000 , and Frist, Capital, 5120,000 . The partners share net income and loss in a ratio of 70% to Main and 30% to Frist. On November 1 , Adison is admitted to the partherahip and given a 20% interest in equity and a 20% share in any income and loss. Assume Adison invests cash of $130,000. what would be the joumal entry to record the admission of Adison. Cr. Cash 130,000; Dr. Adison, Capital 102,000; Dr. Main, Capital 19,600; Dr. Frist, Capital 8,400 None of the entries is correct Dr. Cash 130,000; Cr. Adison, Capital 102,000; Cr. Main, Capital 19,600; Cr. Frist, Capital 8,400 Dr. Cash 130,000; Dr. Adison, Capital 102,000, Cr. Main, Capital 19,600; Cr. Frist, Capital 8,400