Stein agrees to pay Choi and Amal $ 10,000 each for a one- third (331/ 3%) interest

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Stein agrees to pay Choi and Amal $ 10,000 each for a one- third (331/ 3%) interest in the Choi and Amal partnership. Immediately prior to Stein’s admission, each partner had a $ 30,000 capital balance. Make the journal entry to record Stein’s purchase of the partners’ interest.

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Fundamental accounting principle

ISBN: 978-0078025587

21st edition

Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta

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