The Josetti Partnership has total partners' equity of $380,000, which is made up of Dopke, Capital, $266,000, and Hughes, Capital, $114,000. The partners share net income and loss in a ratio of 77% to Dopke and 23% to Hughes. On November 1, Nillsen is admitted to the partnership and given a 20% interest in equity and a 20% share in any income and loss. Prepare the journal entry to record the admission of Nillsen under each of the following separate assumptions .
- Nillsen invests cash of $95,000
- Nillsen invests cash of $130,000
- Nillsen invests cash of $65,000