Journalize the? partnerships receipt

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Reference no: EM133661690

Question: Pound has $ 44 comma 000 capital and Flores has $ 26 comma 000 capital in the Pound ?& Flores partnership. Pound and Flores share profits and losses equally. Ritter Reese contributes cash of $ 36 comma 000 to acquire a 15?% interest in the new partnership. Journalize the? partnership's receipt of the $ 36 comma 000 from Reese. ?(Record debits? first, then credits. Select the explanation on the last line of the journal entry? table.)

Reference no: EM133661690

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