Keri & Nick Consulting’s partners’ equity accounts reflected the following balances on August 31, 2020:

Keri Lee, Capital ............................................................................................................................ $ 50,000
Nick Kalpakian, Capital .................................................................................................................. 195,000

Lee and Kalpakian share profit/losses in a 2:3 ratio, respectively. On September 1, 2020, Liam Court is admitted to the partnership with a cash investment of $105,000.

Required

Prepare the journal entry to record the admission of Liam under each of the following unrelated assumptions, where he is given:

a. A 30% interest in equity

b. A 20% interest in equity

c. A 50% interest in equity