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Question(s) / Instruction(s):

A partnership recorded the following journal entry:   

Cash                                                                70,000

B. Tanner, Capital                                           10,000

R. Jackson, Capital                                         10,000

            H. Rivera, Capital                                                       90,000


This entry reflects: 


A. Acceptance of a new partner who invests $70,000 and receives a $20,000 bonus.


B. Withdrawal of a partner who pays a $10,000 bonus to each of the other partners.


C. Addition of a partner who pays a bonus to each of the other partners.


D. Additional investment into the partnership by Tanner and Jackson.


E. Withdrawal of $10,000 each by Tanner and Jackson upon the admission of a new partner.

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