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Partner A has a capital balance of $400,000 and Partner B has a capital balance of...

  1. Partner A has a capital balance of $400,000 and Partner B has a capital balance of $162,500. Partner C wants to purchase 25% of the partnership under the following scenarios: 1) Cash of $187,500, 2) Cash of $212,500 or 3) Cash of $162,500. Partners A and B shares losses 80% and 20%. Prepare the general journal entries under each of the scenarios
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