Partners Sara and Mia divide profits and losses 2:3 with capital balances of $470,000 and $560,000 respectively. They agreed to admit Ana by his purchase of ¼ of Madre's interest for $300,000. They agreed to write off Accounts Receivable worth $5,600. Fixed assets were under-depreciated by $25,000. Payments of accounts payable in the amount of $7,200 was not posted to the payable account. What amount will be credited to Ana's interest?

Answer rating: 100% (QA)

300000 Explanation Capital Accounts Sara 470000 Mia560000 New partner Anas interest300000 Accounts ... View the full answer