Arthur has a capital balance of $80,000 and E . Joseph has a capital balance of $100,000
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Question:
Arthur has a capital balance of
$80,000
and
E
. Joseph has a capital balance of
$100,000
in their partnership as of June 30 . On July 1 , the two partners agree to accept M. Alice as a partner in exchange for an investment of
$20,000
. Prepare the July 1 journal entry for the partnership.\ Note: Enter debits before credits.\ \\\\table[[Date,General Journal,Debit,Credit],[Jul 01,,,],[,,,],[,,,],[,,,],[,,,]]
Related Book For
Advanced Financial Accounting
ISBN: 978-0078025624
10th edition
Authors: Theodore E. Christensen, David M. Cottrell, Richard E. Baker
Posted Date: