$2.$ Assume that Charlotte acquired a $20\%$ interest in the partnership by contributing a total of $$75,000$ directly to the other four partners. Goodwill is to be recorded. Profits and losses have previously been split according to the following percentages: Eleanor, $15\%$; Lauren, $25\%$; Graham, $35\%$; Vaughn, $25\%.$ Assume the following balance sheet is in place at the time of the contribution.

Cash and current assets $ $39,000$ Liabilities $ $52,000$

Land $234,000$ Eleanor, capital $26,000$

Building and equipment $130,000$ Lauren, capital $52,000$

Graham, capital $117,000$

Vaughn, capital $156,000$

Total $ $403,000$

Total $ $403,000$

Required:

a$.$ Prepare the journal entry or entries required to record the admission of Charlotte.

b$.$ What were the individual capital balances after Charlotte made her investment?