Admitting New Partners Myles Etter and Crystal Santori are partners who share in the income equally and have capital balances of $114,000 and $48,000, respectively. Etter with the consent of Santori, sells one third of his interest to Lonnie Davis a. What entry is required by the partnership if the sales price is $30,000? If an amount box does not require an entry, leave it blank. b. What entry is required by the partnership if the sales price is $50,000? If an amount box does not require an entry, leave it blank eBook Show Me How Admitting New Partners Who Buy an Interest and contribute Assets The capital accounts of Trent Henry and Tim Chou have balances of $181,000 and $130,400, respectively. LeAnne Gilbert and Becky Clarke are to be admitted to the partnership, Gilbert buys one-fifth of Henry's interest for $41,600 and one-fourth of Chou's interest for $28,700. Clarke contributes $44,200 cash to the partnership, for which she is to receive an ownership equity of 544,200. al. Journalize the entry to record the admission of Gilbert. If on amount box does not require an entry, leave it blank a2. Journalize the entry to record the admission of Clarke. If an amount box does not require an entry, leave it blank b. What are the capital balances of each partner after the admission of the new partners? Capital Balance Partner Trent Henry Tim Chou LeAnne Gilbert Recky Clarke Check My Work 3 moro Check My Work uses remaining Email Instructor Save and Exit All work saved e Submit Assignment for Grading 11:49 am (06 ESP 03/10/200 29C Lluvia ligera O o