eBook Snow Me How Admitting New Partners Who Buy an Interest and Contribute Assets Chart of Accounts Journal Final Question Instructions The capital accounts of Trent Henry and Tim Chou have balances of $152,400 and 583,300, respectively LeAnne Gilbert and Becky Clarks are to be admitted to the partnership Gilbert buys one-fifth of Henry's interest for $32,500 and one-fourth of Chou's interest for 521,400. Clarke contributes 573,000 cash to the partnership for which she is to receive an ownership equity of 573,000 Required: a on December 31, journalize the entries to record the admission of (1) Gilbert and (2) Clare Refer to the chart of accounts for the exact wording of the accountities CNC journals do not use lines for journal explanations. Every line on a journal page is used for debitor credit entre CNOW journals will automatically indent a credit entry when a credit amount is entered What are the capital balances of each partner after the admission of the new partnera? eBook Show Me How Admitting New Partners Who Buy an Interest and Contribute Assets Chart or Accounts Journal Final Question Journal u on December 31, journalize the entries to record the admission of (1) Gibert and (2) Clarke refer to the churt of accounts for the exact wording of the account titles CHOW Journals do not ce vines for yournal explanationis Every time on a jourtial papa in used for debit ear credt entros CNOW journals w auctomatically indent a crochet entry when a credit amount is ornitored PGE 10 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION TOSTERE DET CHLOST METS LIABILITIES FOUNTY 2:26 AM SAF Gloudy Joumal Final Question a e CNC b. What are the capital balances of each partner after the admission of the new partners? ents Partner Capital Balance $ Trent Henry, Capital Tim Chou, Capital LeAnne Gilbert, Capital $ $ Becky Clarke, Capital $ 1 3