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Business, 10.09.2019 19:30 aarieejones

In the jk partnership, jacob's capital is $140,000, and katy's is $40,000. they share income in a 3: 2 ratio, respectively. they decide to admit erin to the partnership. each of the following questions is independent of the others.
refer to the information provided above. erin invests $50,000 for a one-fifth interest in the total capital of $230,000. the journal entry to record erin's admission into the partnership would include
a. a debit to jacob, capital for $2,400.
b. a credit to erin, capital for $50,000.
c. a credit to katy, capital for $1,600.
d. a credit to cash for $50,000.

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In the jk partnership, jacob's capital is $140,000, and katy's is $40,000. they share income in a 3:...
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