Carla Vista Oil Imports is a partnership owned by Magda Walker and Giannis Allen. The partners share profit on a 3:2 basis, respectively, On January 1, 2024, they have capital balances of $120,000 and $72,000, respectively. On that day, Magda and Giannis agree to admit lona King to the partnership in exchange for an investment of cash into the partnership. (a) Prepare the journal entry to record the admission of King on January 1 under each of the following independent amsumptions (Credit account titles are automatically indented when the amount is entered, Do not indent manually. Do not round ary intermediate calculations, List all debit entries before credit entries. If no entry is required, select ' No Entry" for the dccount titles and erter 0 for the amounts.) 1. King invests $60,000 cash for a 30 S ownership interest. This is an investment of assets. 2. King invests $108,000 cash for a 30% ownership interest. This is an investment of asseta