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Record john admission in the partnership

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Reference no: EM132820638

On December 31, 20x1, John joins the partnership of Andrew and jess by purchasing 10% of Andrew's capital for P70,000. Andrew and Jess have capital balances of P 400,000 and P 300,000 respectively, as of December 31, 20x1.

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Problem 1: Record John's admission in the partnership.

Reference no: EM132820638

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