Baggins and Gamgee, partners in an adventure travel business, share profits and losses in the ratio of 3:2, respectively. Prior to recording the admission of Aragorn as a new partner, Baggins has a capital balance of $80,000, and Gamgee has a capital balance of $40,000. [Required] For each of the following independent cases, prepare the journal entry that was made to record the admission of Aragorn into the partnership: Aragorn invests $50,000 cash into the partnership for a 20 percent ownership interest. Goodwill is to be recognized. Baggins and Gamgee, partners in an adventure travel business, share profits and losses in the ratio of 3:2, respectively. Prior to recording the admission of Aragorn as a new partner, Baggins has a capital balance of $80,000, and Gamgee has a capital balance of $40,000. [Required] For each of the following independent cases, prepare the journal entry that was made to record the admission of Aragorn into the partnership: Aragorn invests $50,000 cash into the partnership for a 20 percent ownership interest. Goodwill is to be recognized