xercise 12-11 (Algo) Admission of new partner LO P3 he Struter Partnership has total partners' equity of $460.000, which is made up of Main, Capital, $322,000, and Frist, Capital, 138,000. The partners share net income and loss in a ratio of 80% to Main and 20% to Frist. On November 1 , Adison is admitted to the artnership and given a 20% interest in equity and a 20% share in ary income and loss. repare journal entries to record the admission of Adison for a 20% interest in the equity and a 20% share in any income and loss inder independent assumption. 1) Record the admission of Adison with an investment of $115.000 for a 20% interest in the equity and a 20% share in any income and oss. 2) Record the admission of Adison with an irvestment of $150.000 for a 20% interest in the equity and a 20% share in any income and oss. (3) Record the admission of Adison with an investment of $85,000 for a 20% interest in the equity and a 20% share in any income and OS5. Journal entry worksheet Record the admission of Adison with an investment of $115,000 for a 20% interest in the equity and a 20% share in any income and loss. Notei Enitur debltw before cred to