Debra and Merina sell electronic equipment and supplies through their partnership. They wish to expand their computer lines and decide to admit Wayne to the partnership. Debras capital is $200,000, Merinas capital is $160,000, and they share income in a ratio of 3:2, respectively.

Required: Record Waynes admission for each of the following independent situations: a. Wayne directly purchases half of Merinas investment in the partnership for $98,000. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Record the purchase of 1/2 of merina investment for 98,000 by wayne