Question: Using the same information, assuming Bae paid P120,000 for 30% interest in the partnership and the partners agree to revalue the assets before admission, which

Using the same information, assuming Bae paid P120,000 for 30% interest in the partnership and the partners agree to revalue the assets before admission, which of the following is correct? PRESENT IT IN GOOD ACCOUNTING FORM WITH EXPLANATION

a.Harold capital will increased by P45,000 as a result of revaluation.

b. Jeff capital after admission is P31,500.

c. Junior capital will be debited by P30,000 as a result of revaluation.

d. Cash is debited for P120,000 as a result of admission.

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