Dresden agrees to pay Choi and Amal $20,000 each for a one-third (3313%) interest in the Choi

Question:

Dresden agrees to pay Choi and Amal $20,000 each for a one-third (331⁄3%) interest in the Choi and Amal partnership. Immediately prior to Dresden’s admission, each partner had a $60,000 capital balance. Make the journal entry to record Dresden’s purchase of the partners’ interest.