Sue and Jill, who have ending capital balances of $80,000 and $60,000 respectively, agree to admit two new partners. Carlos will buy 1/2 of Sue's interest for $20,000 and 1/4 of Jill's interest for $25,000 directly from the partners. Carmen will invest $40,000 for a $40,000 equity interest. Journalize the entry to admit Carlos and Carmen.

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The Answer of Sue and Jill, who have ending capital balances of $80,000 and $60,000 respectively, agree to admit two new partners. Carlos will buy 1/2 of Sue's interest for $20,000 and 1/4 of Jill's interest for $25,000 directly from the partners. Carmen will invest $40,000 for a $40,000 equity interest. Journalize the entry to admit Carlos and Carmen.

Sue and Jill, Who Have Ending Capital Balances of $80,000