Exercise 12-12 a-b (Part Level Submission) S. Pagan and T. Tabor share income on a 6:4 basis. They have capital balances of $100,000 and $50,000, 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. v (a) Investment of $85,000 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