3. Moe, Larry and Curly have capital accounts in the partnership of $60,000, $36,000, and $14,000 respectively, and share income and losses by 5:4:1. The partnership had agreed to admit Joe as a partner under the following independent assumptions. Prepare journal entries for each.

a) Joe pays Curly $16,000 for 50% of Curly's interest.

b) Joe pays Larry $15,000 for one-third of Larry's interest.

c) Joe invests $60,000 into business for a 1/3 interest Watch out for 1/3, remember in decimal =.3333333333333

d) Joe invests $40,000 into business for a $30% interest.