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The Struter Partnership has total partners' equity of $540,000, which is made up of Main, Capital, $378,000, and Frist, Capital, $162,000. The partners share net

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The Struter Partnership has total partners' equity of $540,000, which is made up of Main, Capital, \$378,000, and Frist, Capital, \$162,000. The partners share net income and loss in a ratio of 79% to Main and 21% 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 $135,000 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 $170,000 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 $105,000 for a 20% interest in the equity and a 20% share in any income and loss. Journal entry worksheet Record the admission of Adison with an investment of $105,000 for a 20% interest in the equity and a 20% share in any income and loss. Note: Enter debits before credits

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