L. White, V. Sable, and E. Rabel are partners with capital balances of $93,000, $84,000, and $70,000,

Question:

L. White, V. Sable, and E. Rabel are partners with capital balances of $93,000, $84,000, and $70,000, respectively. Rabel sells his interest in the company for $88,000 to P. Skou. White and Sable have consented to the new partner. Record the journal entry for the admission of Skou on April 8.