At April 30, partners' capital balances in Crane Company are G. Donley $54,080, C. Lamar $49,920, and J. Pinkston $18,720. The income sharing ratios are 5 : 4 : 1, respectively. On May 1, the PDLT Company is formed by admitting J. Terrell to the firm as a partner.

(a)

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(1)

(2)

(3)

(4)

Journalize the admission of Terrell under each of the following independent assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to O decimal places, e.g. 5,275.)

Terrell purchases 50% of Pinkston's ownership interest by paying Pinkston $16,640 in cash.

Terrell purchases 331/3% of Lamar's ownership interest by paying Lamar $15,600 in cash.

Terrell invests $64,480 for a 30% ownership interest, and bonuses are given to the old partners.

Terrell invests $43,680 for a 30% ownership interest, which includes a bonus to the new partner.