At April 30 of the current year, partners capital balances and the profit-and loss-sharing ratio in Indigo Enterprises are as follows: Partner R. Short K Osborne W. Sanga Capital Balance $42,000 $21,000 $57,000 Profit and Loss Ratio 3 2 4 On May 1, the Sandhill Company is formed by admitting N. Osvald to the firm as a partner. Journalize the admission of Osvald if Osvald purchases 50% of W. Sanga's ownership interest by paying W. Sanga $30,100 cash from personal funds. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation May 1 (To record purchase of an interest.) Journalize the admission of Osvald if Osvald invests $71,000 cash in the partnership for a 40% ownership interest (Round answers to decimal places, eg. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation May 1 (To invest cash in business.) partnership for a Round answers to O decimal places, eg. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation May 1 (To invest cash in business.) Osvald invests $30,000 in the partnership for a 20% ownership interest. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation May 1 (To invest cash in business.)