At April 30, partners' capital balances in BAB Company are: Barney $30,000.Andy $16,000, and Bea $15,000. The income-sharing ratios are 5:3:2, respectively. On May 1,the BABE Company is formed by admitting Ellen to the firm as a partner.Instructions(a)Journalize the admission of Ellen under each of the following independent assumptions.(1)Ellen purchases 50% of Bea's ownership interest by paying Bea $6,000 in cash.(2)Ellen purchases 50% of Andy's ownership interest by paying Andy $10,000 in cash.(3)Ellen invests $29,000 cash in the partnership for a 40% ownership interest that includesa bonus to the new partner.(4)Ellen invests $24,000 in the partnership for a 20% ownership interest, and bonuses aregiven to the old partners.(b)Andy's capital balance is $24,000 after admitting Ellen to the partnership by investment. IfAndy's ownership interest is 24% of total partnership capital, what were (1) Ellen's cash in-vestment and (2) the total bonus to the old partner