At April 30, partners capital balances in PDL Company are G. Donley $52,000, C. Lamar $48,000, and J. Pinkston $18,000. The income sharing ratios are 5:4:1, respectively. On May 1, the PDLT Company is formed by admitting J. Terrell to the fi rm as a partner. Instructions (a) Journalize the admission of Terrell under each of the following independent assumptions. (1) Terrell purchases 50% of Pinkstons ownership interest by paying Pinkston $16,000 in cash. (2) Terrell purchases 331/3% of Lamars ownership interest by paying Lamar $15,000 in cash. (3) Terrell invests $62,000 for a 30% ownership interest, and bonuses are given to the old partners. (4) Terrell invests $42,000 for a 30% ownership interest, which includes a bonus to the new partner. (b) Lamars capital balance is $32,000 after admitting Terrell to the partnership by investment. If Lamars ownership interest is 20% of total partnership capital, what were (1) Terrells cash investment and (2) the bonus to the new partner?