Selma pays Sally $34,121 for her 29% interest in a partnership with total net assets of $148,827. Determine the credit balance of Selma\'s capital account following this transaction. Select the correct answer. Solution Solution : Ans is C) $148,827 Explanation : Appropriations , drawings and other adjustments are not recorded in Capital Accounts . Hence credit balance of Selma\'s capital account will be $148,827 viz the total net assets. .