On June 17, 2017, Bishop agrees to invest $30,000 into an online custom T-shirt print shop business

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On June 17, 2017, Bishop agrees to invest $30,000 into an online custom T-shirt print shop business for a 40% interest in total partnership equity. At the time Bishop is admitted, the existing partners, Pollard and Mission, each have a $30,000 capital balance. Prepare the entry on June 17 to record admission to the partnership. Any bonus is to be shared equally by Pollard and Mission.

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Fundamental Accounting Principles Volume 2

ISBN: 9781259087363

15th Canadian Edition

Authors: Kermit Larson, Heidi Dieckmann

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