Question: Gamma Co capital balances are Barr 30 000 Croy 25 000 and
Gamma Co. capital balances are: Barr $30,000, Croy $25,000 and Eubank $22,000. The partners share income equally. Tovar is admitted to the firm by purchasing one-half of Eubank’s interest for $13,000. Journalize the admission of Tovar to the partnership.
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