At April 30, partners' capital balances in Sunland Company are G. Donley $54,000, C. Lamar $50,000, and J. Pinkston $19,600. 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.

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 0 decimal places, e.g. 5,275.)

(1)Terrell purchases 50% of Pinkston's ownership interest by paying Pinkston $15,600in cash.

(2)Terrell purchases 33¹/₃% of Lamar's ownership interest by paying Lamar $15,000in cash.

(3)Terrell invests $63,000for a 30% ownership interest, and bonuses are given to the old partners.

(4)Terrell invests $42,000for a 30% ownership interest, which includes a bonus to the new partner.

No. Account Titles and Explanation Debit Credit

(1)

(2)

(3)

(4)

Lamar's capital balance is $36,600after admitting Terrell to the partnership by investment. If Lamar's ownership interest is 20% of total partnership capital, what were (1) Terrell's cash investment and (2) the bonus to the new partner?

(1)Terrell's cash investment$

(2)Bonus to new partner$