Current Attempt in Progress S. Pagan and T. Tabor share income on a 6:4 basis. They have capital balances of $108,000 and $65.000, respectively, when W. Wolford is admitted to the partnership. Prepare the journal entry to record the admission of W. Wolford under each of the following assumptions. (a) Your Answer Correct Answer Your answer is correct. Investment of $89,000 cash for a 30% ownership interest with bonuses to the existing partners. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Cash 89000 W. Wolford, Capital V 78600 S.Pagan, Capital V 6240 T Tabor, Capital 4160 e Textbook and Media Attempts: 1 of 3 used (b) Your Answer Correct Answer - Your answer is partially correct. Investment of $56,000 cash for a 30% ownership interest with a bonus to the new partner. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Cash 89000 W. Wolford. Drawings 78600 S.Pasan. Drawings . 6240 T. Tabor. Drawines 4160 e Textbook and Media