A. Smith and 1 , William share profit on a 2:1 basis, respectively. They have capital balances of $71,500 and $45,500, respectively. when S. Brown is admitted to the partnership on September 1,2024. (a) Prepare the journal entry to record the admission of Brown under each of the following independent assumptions: (Credlt account titles wre cutomotically indented when the amount is enterod. Do not indent manually list all debit entries before credit entries if no entry is required, select "No Entry" for the aceount tities and enter 0 for the amounts) 1. Brown purchases 50% of S mith's equity for $32,500. This is a personal transaction between the parthers 2. Brown purchases 25% of Smith's and Wiliam's equity for $19.500 and $13.000, respectively. This is a personal transaction amons the partners