X and Y are partners with initial investment of $240,000 and $160,000 respectively. They share income and loss by 70% for X and 30% for Y. They accepted Z as a new partner in the partnership. Required: Record the admission of Z who invests cash of $150,000 in the partnership and receives 20% ownership interest in the new partnership. YOUR ANSWER SHOULD BE IN THE FOLLOWING FORM: Dr. Cash 100,000 Cr. Land 100,000 For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BI U S Paragraph Arial V