• Question: Delta has bought Gamma’s interest in the alpha & beta partnership for a $120,000 direct payment to Beta. The capital balances before the sale were $74,000 and $86,000, respectively. The entry to record the purchase of an interest in the partnership is: (select the right entry)
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• a.    Beta Capital      120,000
•               Delta Capital             120,000
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• b.    Beta Capital       86,000
•               Delta Capital             86,000

c.     Beta Capital       86,000

               Cash                          86,000

d.     Cash              120,000

               Delta Capital             120,000

Answer rating: 100% (QA)

Solution Option B us correct ... View the full answer