ABC Partnership decided to admit D who purchased 20% interest from A whose capital balance was P 400,000. D paid her P 100,000. The entry to record this transaction in the partnership would be Debit: Cash P 80,000 and Credit : D, Capital P 80,000 O Debit: Cash P 100,000 and Credit : D, Capital P 100,000 O Debit: A, Capital P 80,000 and Credit : D, Capital P 80,000 O Debit: A, Capital P 100,000 and Credit : D, Capital P 100,000

ABC Partnership decided to admit D who purchased 20% interest from A whose capital balance was P 400,000. D paid her P 100,000. The entry to record this transaction in the partnership would be Debit: Cash P 80,000 and Credit : D, Capital P 80,000 O Debit: Cash P 100,000 and Credit : D, Capital P 100,000 O Debit: A, Capital P 80,000 and Credit : D, Capital P 80,000 O Debit: A, Capital P 100,000 and Credit : D, Capital P 100,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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