EX 12-10. Admitting new partners who buy an interest and contribute assets Obj. 3 Show Me How The capital accounts of Trent Henry and Tim Chou have balances of $160,000 and $100,000, respectively. LeAnne Gilbert and Becky Clarke are to be admitted to the partnership. Gilbert buys one-fifth of Henry's inter- est for $35,000 and one- fourth of Chou's interest for $29,000. Clarke con- tributes $90,000 cash to the partnership, for which she is to receive an own- ership equity of $90,000. Journalize the entries to record the admission of (1) Gilbert and (2) Clarke. What are the capital bal- ances of each partner after the admission of the new partners? Less than a minute: 46 pages left