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April and Cammy Are Partners Who Have Agreed to Admit

Question 77

Multiple Choice

April and Cammy are partners who have agreed to admit Elena,who will invest $30,000 for a 20 percent interest.The previous capital balances were $30,000 and $60,000 for April and Cammy,respectively.April and Cammy had shared profits and losses equally.The entry that records Elena's admission to the partnership is:


A)
April and Cammy are partners who have agreed to admit Elena,who will invest $30,000 for a 20 percent interest.The previous capital balances were $30,000 and $60,000 for April and Cammy,respectively.April and Cammy had shared profits and losses equally.The entry that records Elena's admission to the partnership is: A) B) C) D)
B)
April and Cammy are partners who have agreed to admit Elena,who will invest $30,000 for a 20 percent interest.The previous capital balances were $30,000 and $60,000 for April and Cammy,respectively.April and Cammy had shared profits and losses equally.The entry that records Elena's admission to the partnership is: A) B) C) D)
C)
April and Cammy are partners who have agreed to admit Elena,who will invest $30,000 for a 20 percent interest.The previous capital balances were $30,000 and $60,000 for April and Cammy,respectively.April and Cammy had shared profits and losses equally.The entry that records Elena's admission to the partnership is: A) B) C) D)
D)
April and Cammy are partners who have agreed to admit Elena,who will invest $30,000 for a 20 percent interest.The previous capital balances were $30,000 and $60,000 for April and Cammy,respectively.April and Cammy had shared profits and losses equally.The entry that records Elena's admission to the partnership is: A) B) C) D)

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