URCES Question 22 The Gant and Morris Partnership have partner capital account balances as follows: Gant, Capital $252,000 Morris, Capital 84,000 The partners share profit and losses in the ratio of 6:4. Your answer is correct. Prepare the journal entry on the books of the partnership to record the admission of Lars as a new partner if Lars pays $141,000 to Interest in a personal transaction. (Credit account title are automatically indented when the amount is entered. Do not ine Account Titles and Explanation Debit Credit Gant, Capital 126000 Morris, Capital 42000 Lars, Capital 168000 tudy SHOW SOLUTION SHOW ANSWER LINK TO TEXT (b) Prepare the journal entry on the books of the partnership to record the admission of Lars as a new partner if Lars invests $201,000 in the par (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit FULL SCREEN PRINTER VERSION BACK NE Attempts: 2 of 15 used (b) Prepare the journal entry on the books of the partnership to record the admission of Lars as a new partner Lars invests $201,000 in the partnership for a one-third interest in partnership capital (Credit account titles are automatically indented when the amount is entered. Do not indent manually) Account Titles and Explanation Debit Credit LINK TO TEXT By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy by your instructor