Admitting New Partners Who Buy an Interest and Contribute Assets The capital accounts of Trent Henry and Tim Chou have balances of $132,000 and $95,200, respectively. LeAnne Gilbert and Becky Clarke are to be admitted to the partnership. Gilbert buys one-fifth of Henry's interest for $30,400 and one-fourth of Chou's interest for $20,900. Clarke contributes $32,200 cash to the partnership, for which she is to receive an ownership equity of $32,200. al. Journalize the entry to record the admission of Gilbert. For a compound transaction, if an amount box does not require an entry, leave it blank. Trent Henry, Capital Tim Chou, Capital LeAnne Gilbert, Capital 0 Feedback Check My Work al. Calculate the interest Gilbert is purchasing from both partners. Record Gilbert's Capital interest purchased, and decrease Henry, Capital and Chou, Capital. a2. Journalize the entry to record the admission of Clarke. Cash 32.200 Becky Clarke, Capital 32,200 Feedback Feedback 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? Partner Capital Balance Trent Henry Tim Chou LeAnne Gilbert Becky Clarke