Make the partnership journal entry to record the admission of Hollis under plans (a), (b), and (c) in Exercise 12-18. Explanations are not required. 

 Exercise 12-18

Heather Hollis is admitted to the partnership of Rose \& Novak. Prior to her admission, the partnership books show Ginny Rose's capital balance at \(\$ 100,000\) and Chris Novak's at \(\$ 50,000\). Compute each partner's equity on the books of the new partnership under the following plans:

a. Hollis pays \(\$ 70,000\) for Norak's equity: Hollis pays Novak directly;

b. Hollis invests \(\$ 50,000\) to acquire a \(1 / 4\) interest in the partnership.

c. Hollis invests \(\$ 90,000\) to acquire a \(1 / 4\) interest in the partnership.