Question: Question: Delta has bought Gammas interest in the alpha & beta partnership for a $120,000 direct payment to Beta. The capital balances before the sale

  • 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)

  • a.    Beta Capital      120,000
  •               Delta Capital             120,000

  • 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

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