X and Y were in partnership sharing profits and losses equally.
Z joined the partnership and profit continued to be shared equally between the three partners. Goodwill was valued but no goodwill account was to remain in the books of account.
Which entries were made to record the goodwill adjustment?
1 )
1 and 3
1 and 4
3 )
2 and 3
4 )
2 and 4
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