After the tangible assets have been adjusted to current market prices, the capital accounts of Brad Paulson and Drew Webster have balances of $45,000 and $60,000, respectively. Austin Neel is to be admitted to the partnership, contributing $30,000 cash to the part- nership, for which he is to receive an ownership equity of $35,000. All partners share equally in income. a. Journalize the entry to record the admission of Neel, who is to receive a bonus of $5,000. b. What are the capital balances of each partner after the admission of the new partner? c. Why are tangible assets adjusted to current market prices prior to admitting a new partner?