Floyd and Merriam start a partnership business on June 12, 2025. Their capital account balances as of December 31, 2026 stood as follows: Floyd Merriam Floyd and Merriam share profits and losses equally. They agreed to dissolve the partnership and start a new one, admitting Ramelow for one-half share in the capital in exchange for land with a market value of $69,000. Which of the following is the correct journal entry to record the introduction of Ramelow as a partner? O Floyd, Capital 69,000 Ramelow, Capital O Land Merriam, Capital Floyd, Capital Ramelow, Capital O Merriam, Capital Floyd, Capital Ramelow, Capital O Land $54,000 19,000 Ramelow, Capital 69,000 1,000 1,000 34,500 34,500 69,000 69,000 71,000 69,000 69,000

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