Frank Evans and Barbara Baker have a partnership that splits profits equally. It has become very successful and they are considering admitting a new partner, Pete Zhang, for an equal sharea 1/3 interest in the new partnership. Based on the value of the partnership's success, they have negotiated an amount of

$118,000, which Zhang will invest to obtain a 1/3 share. The balances in the existing partner capital accounts are:

Evans	$60,000
Baker	$62,000

What journal entry would be made for Zhang's investment and admittance to the new partnership?

A.debit Evans, Capital $59,000;debit Baker, Capital$59,000;credit Zhang, Capital $118,000

B.debit Cash $118,000; credit Evans, Capital $19,000;credit Baker, Capital $19,000;credit Zhang, Capital $80,000

C.debit Cash$118,000;credit Zhang, Capital $118,000

D.debit Zhang, Capital $38,000; credit Evans, Capital$18,000;credit Baker, Capital