In Blossom partnership, capital balances are Jason $50,400 and Gary $63,000. The partners share income equally. John is admitted to the firm with a 45% interest by an investment of cash of $73,080. Journalize the admission of John. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles Oct. 1 Debit + Credit I

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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In Blossom partnership, capital balances are Jason $50,400 and Gary $63,000. The partners share income equally. John is admitted to
the firm with a 45% interest by an investment of cash of $73,080. Journalize the admission of John. (Credit account titles are
automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no
entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Date Account Titles
Oct. 1
Debit
+ Credit
17
Transcribed Image Text:In Blossom partnership, capital balances are Jason $50,400 and Gary $63,000. The partners share income equally. John is admitted to the firm with a 45% interest by an investment of cash of $73,080. Journalize the admission of John. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles Oct. 1 Debit + Credit 17
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