A and B are partners with nitial vitnemt of S120,000 and $80,000 respectively. They are income and for by 60% for And for I. They were te parashi Required: Record the admision of ander each of the following separatemtions 1-C purchased one half of A's interest for $70,000 cash 2- Cost cash of $80,000 in the partnership and receves 25% ownership interest in the new putnership YOUR ANSWER SHOULD BE IN THE FOLLOWING FORM DO NOT USE BETWEEN NUMBERS Dy Cash 100000 Cr. Land 100000 For the toolbar, press ALT F10 (PO O ALTFNIF10 (Mad)