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.

Please Provide a journal entry for the following:

c. Wayne invests $100,000 for a 25 percent interest. Goodwill is to be recorded.

d. Debra and Merina agree that some of the inventory is obsolete. The inventory account is decreased before Wayne is admitted. Wayne invests $100,000 for a 25 percent interest.

e. Wayne directly purchases a 25 percent interest by paying Debra $82,000 and Merina $60,000. The land account is increased before Wayne is admitted.

f. Wayne invests $69,000 for a 20 percent interest in the total capital of $429,000

g. Wayne invests $104,000 for a 20 percent interest. Goodwill is to be recorded. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)