Beth, Steph, and Linda have been operating a small gift shop for several years. After an EXERCISE 15-9 Partner Admission extensive review of their past operating performance, the partners concluded that the business needed to expand in order to provide an adequate return to the partners. The following balance sheet is for the partnership prior to the admission of a new partner, Mary. Figures shown parenthetically reflect agreed profit-and-loss sharing percentages. Required: Prepare the necessary journal entries to record the admission of Mary in each of the following independent situations. Some situations may be recorded in more than one way. 1. Mary is to invest sufficient cash to receive a one-sixth capital interest. The parties agree that the admission is to be recorded without recognizing goodwill or bonus. 2. Mary is to invest $160,000 for a one-fifth capital interest. 3. Mary is to invest $160,000 for a one-fourth capital interest. 4. Mary is to invest $160,000 for a 40% capital interest