April and Cammy are partners who have agreed to admit Elena,who will invest $30,000 for a 20 percent interest.The previous capital balances were $30,000 and $60,000 for April and Cammy,respectively.April and Cammy had shared profits and losses equally.The entry that records Elena's admission to the partnership is:

Question

Quizplus · Accepted Answer

The Answer of April and Cammy are partners who have agreed to admit Elena,who will invest $30,000 for a 20 percent interest.The previous capital balances were $30,000 and $60,000 for April and Cammy,respectively.April and Cammy had shared profits and losses equally.The entry that records Elena's admission to the partnership is:

April and Cammy Are Partners Who Have Agreed to Admit