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Your answer is partially correct. Journalize the admission of Terrell under each of the following independent assumptions. ( Credit account titles are automatically indented when
Your answer is partially correct.
Journalize the admission of Terrell under each of the following independent assumptions. Credit account titles are automatically
indented when amount is entered. Do not indent manually. Round answers to decimal places, eg
Terrell purchases of Pinkston's ownership interest by paying Pinkston $ in cash.
Terrell purchases of Lamar's ownership interest by paying Lamar $ in cash.
Terrell invests $ for a ownership interest, and bonuses are given to the old partners.
Terrell invests $ for a ownership interest, which includes a bonus to the new partner.
b
Lamar's capital balance is $ after admitting Terrell to the partnership by investment. If Lamar's ownership interest is
of total partnership capital, what were Terrell's cash investment and the bonus to the new partner?
Terrell's cash investment $
Bonus to new partner $
Need help and I can't figure it out. The highligted in red border is wrong.
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