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Tokyo and the Professor are partners with capital balances of $13,000 and $95,000 and who...

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Accounting

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Tokyo and the Professor are partners with capital balances of $13,000 and $95,000 and who share in the profit and loss of La Casa de Papel 10% and 90% respectively, when they agree to admit Nairobi for a 10% interest. Nairobi contributes $5,000 to the partnership and goodwill method is used. Record the journal entry (ies) for Nairobi joining the partnership

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