Question: With explanation pls. thank you Problem 2 Case a. Harry and Potter are partners with capital balances of P120,000 and P80,000, respectively. Their P/L ration

With explanation pls. thank you

Problem 2 Case a. Harry and Potter are partners with capital balances of P120,000 and P80,000, respectively. Their P/L ration is 3:2. Hogwarts will invest P40,000 for 1/6 interest in the partnership capital and share 40% share in profit and loss. b. Harry and Potter are partners with capital balances of P120,000 and P80,000, respectively. Their profit and loss ratio is 3:2. Hogwarts will invest P40,000 for 1/8 interest in the partnership capital and profit and loss. c. Harry and Potter are partners with capital balances of P120,000 and P80,000, respectively. Their P/L ratio is 3:2. Hogwarts will invest P40,000 for 1/5 interest in the partnership capital and profit and loss. Required: Journal entries for the above independent cases and computations in good form

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