### Journalizing the admission of new partner

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Journalizing the admission of new partner under differ methods.

On February 28, partners' capital balances in the CarmCo partnership are: Alvin, \$60,000; Bob \$30,000; and Charles \$10,000. The income sharing ratio is 2:5:3. Journalize the admission of New under each of the following independent assumptions.

New invests \$20,000 for a 30% ownership interest in CarmCo.

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