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Their capital balances were both 180000 before kim was

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Linda and Sara are partners who share profits 60% and 40%.Their capital balances were both $180,000 before Kim was admitted to the partnership. Kim paid $100,000 each to Linda and Sara for purchase of a 25% interest in the partnership. After her admission to the partnership,

I honestly don't even know where to begin..am I supposed to show a journal entry?His her capital balance just what she put into the business, $300,000?

Reference no: EM13572409

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