The Struter Partnership has total partners' equity of $600,000, which is made up of Main, Capital, $420,000, and Frist, Capital, $180,000. The partners share net income and loss in a ratio of 72% to Main and 28% to Frist. On November 1, Madison is admitted to the partnership and given a 20% interest in equity and a 20% share in any income and loss.

(1)	Assume Madison invests cash of $150,000. Prepare the journal entry to record the admission of Madison.