Admitting New Partners Who Buy an Interest and Contribute Assets The capital accounts of Trent Henry and Tim Chou have balances of $159,500 and $114,800, respectively. LeAnne Gilbert and Becky Clarke are to be admitted to the partnership. Gibert buys one-fifth of Henry's interest for $36,700 and one-fourth of Chou's interest for $25,300. Clarke contributes $38,900 cash to the partnership, for which she is to receive an ownership equity of $38,900. a1. Journalize the entry to record the admission of Gibert. For a compound transaction, if an amount box does not require an entry, leave it blank. feasent T cheo My Werk at. Calculate the intereat Gibert is purchasing from both partners, Record Gibert's Capital interest purchased, and decrease Henry, Capital and Chou, Capital. a2. Journalize the entry to record the admission of Clarke. T Check My Work a2. Clarke's contribution of cash equals the Capital interest purchased. b. What are the capital balances of each partner after the admission of the new partners