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The Struter Partnership has total partners' equity of $ 4 6 0 , 0 0 0 , which is made up of Main, Capital, $

The Struter Partnership has total partners' equity of $460,000, which is made up of Main, Capital, $322,000, and Frist, Capital, $138,000. The partners share net income and loss in a ratio of 76% to Main and 24% 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.
Prepare journal entries to record the admission of Adison for a 20% interest in the equity and a 20% share in any income and loss under independent assumption.
(1) Record the admission of Adison with an investment of $115,000 for a 20% interest in the equity and a 20% share in any income and loss.
(2) Record the admission of Adison with an investment of $150,000 for a 20% interest in the equity and a 20% share in any income and loss.
(3) Record the admission of Adison with an investment of $85,000 for a 20% interest in the equity and a 20% share in any income and loss.
\table[[No,Transaction,General Journal,Debit,Credit,],[A,(1),Cash,Adison, Capital,115,000,],[,,,,,],[,,Cash,150,000,,],[,(2),Adison, Capital,,115,000,],[,,Main, Capital,,,],[,,Frist, Capital,,,],[,,Cash,,,],[,,Main, Capital,,,],[,,Frist, Capital,,,],[,Adison, Capital,,,,],[,,,,,]]
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