Question Completion Status: Moving to another question will save this response Question 7 of 12 Question 7 3 points A and B are partners with initial investment of $120,000 and $80.000 respectively. They share income and loss by 60% for A and 40% for B. They accepted as a new partner in the partnership Required: Record the admission of Cunder each of the following parate assumption 1- purchased one-half of A's interest for $70,000 cash. 2. C invests cash of $80,000 in the partnership and receives 25% ownership interest in the new partnership YOUR ANSWER SHOULD BE IN THE FOLLOWING FORM DO NOT USE BETWEEN NUMBERS Dr. Cash 100000 Cr. Land 100000 For the toolbar, press ALT F10 (PC) or ALT+FN+F10(Mac) BIUS Paragraph Arial 14px A T. a WORDS POWERED BY THE > 4. Moving to another question will save this response Question 7 of 12 Close Window MacBook Pro 40 SC $ 11 2 3 50 67 7V 84 W E R e