Following is the current balance sheet for a local partnership of doctors: Cash and Current Assets $ 39,000 Liabilities $ 52,000 Land 234,000 Adams, cap 26,000 Building 130,000 Barnes, cap 52,000 Cordas, cap 117,000 Total $403,000 Davis, cap 156,000 Total $403,000

a. Eden contributes $80,000 into the partnership for a 25% interest. The four original partners share profits and losses equally. Using the bonus method, prepare the journal entry to record Eden's admission

. b. Instead of contributing $80,000 as in (a), assume that she contributed $124,000 in cash into the business to receive a 20% interest. Goodwill is to be recorded. The four original partners share profits and losses equally. Prepare the journal entries to share the admission.

c. Using the same starting data again, assume that Eden acquires a 20% interest by contributing $71,500 directly to the other four partners. No goodwill is to be recorded. Profits and losses have been split 15%, 35%, 30%, 20% (in alphabetical order). Prepare the journal entry to show Eden's admission.