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The Struter Partnership has total partners' equity of $ 6 8 0 , 0 0 0 , which is made up of Main, Capital, $

The Struter Partnership has total partners' equity of $680,000, which is made up of Main, Capital, $476,000, and Frist, Capital, $204,000. The partners share net income and loss in a ratio of 78% to Main and 22% 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 $170,000 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 $205,000 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 $140,000 for a 20% interest in the equity and a 20% share in any income and loss.

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