Question: Problem II. Prepare the necessary journal entry (15 pts.) A. WXYZ partnership with capital balances $20,000 / $80,000 / $50,000 / $50,000 will allow a

Problem II. Prepare the necessary journal entry (15 pts.) A. WXYZ partnership with capital balances $20,000 / $80,000 / $50,000 / $50,000 will allow a new partner Mary to join the partnership by contributing Trucks worth $60,000 & Cash of $40,000 for a 10% interest in the partnership. Any bonus is to be split based on the ratio: 2:8:5:5. (8 pts.) B. 2nd Problem: Mary gives the Truck worth $60,000 & Cash of $40,000 to partner Z for 50% of his interest. (7 pts.)

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