Admitting New Partners Who Buy an Interest and Contribute Assets

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.$

a$1.$ Journalize the entry to record the admission of Gilbert. If an amount box does not require an entry, leave it blank.

Trent Henry, Capital

Tim Chou, Capital

LeAnne Gilbert, Capital

a$2.$ Journalize the entry to record the admission of Clarke. If an amount box does not require an entry, leave it blank.

Cash

Trent Henry, Capital

b$.$ What are the capital balances of each partner after the admission of the new partners?

Partner