Todd Stratton has a capital balance of $$24,000$; Susan Smith's balance is $$25,000.$ Jerry Hampton pays $$110,000$ to purchase Smith's interest in the Stratton & Smith partnership. Smith gets the full $$11$RequirementsJournalize the partnership's transaction to admit Hampton to the partnership.Must Stratton accept Hampton as a full partner? What rights does Hampton have after purchasing Smith's interest in the partnership?Requirement $1.$ Journalize the partnership's transaction to admit Hampton to the partnership. $($Record debits first, then credits. Select the explanation on the last line of the journal entry table$)$$\backslash$table$[[$Date$,$Accounts and Explanation,Debit,Credit$],[,,,],[,,,],[,,,],[,,,]]$
 

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Todd Stratton has a capital balance of $24,000; Susan Smith's balance is $25,000. Jerry Hampton pays $110,000 to purchase Smith's interest in the Stratton & Smith partnership. Smith gets the full $11 Requirements 1. Journalize the partnership's transaction to admit Hampton to the partnership. 2. Must Stratton accept Hampton as a full partner? What rights does Hampton have after purchasing Smith's interest in the partnership? Requirement 1. Journalize the partnership's transaction to admit Hampton to the partnership. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Todd Stratton has a capital balance of $24,000; Susan Smith's balance is $25,000. Jerry Hampton pays $110,000 to purchase Smith's interest in the Stratton & Smith partnership. Smith gets the full $11 Requirements 1. Journalize the partnership's transaction to admit Hampton to the partnership. 2. Must Stratton accept Hampton as a full partner? What rights does Hampton have after purchasing Smith's interest in the partnership? Requirement 1. Journalize the partnership's transaction to admit Hampton to the partnership. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit