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*Problem 12-04A a-b At April 30, partners' capital balances in Pharoah Company are G. Donley $53,400, C. Lamar $45,000, and J. Pinkston $20,600. The income sharing ratios are 5 : 4:1, respectively. On May 1, the PDLT Company is formed by admitting ). Terrell to the firm as a partner. Journalize the admission of Terrell under each of the following independent assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to o decimal places, e.g. 5,275.) (1) Terrell purchases 50% of Pinkston's ownership interest by paying Pinkston $16,400 in cash. (2) Terrell purchases 33.7% of Lamar's ownership interest by paying Lamar $15,800 in cash. Terrell invests $60,800 for a 30% ownership Interest, and bonuses are given to the old partners. Terrell invests $41,000 for a 30% ownership Interest, which includes a bonus to the new partner. No. Account Titles and Explanation Debit Credit Lamar's capital balance is $36,800 after admitting Terrell to the partnership by investment. If Lamar's ownership interest is 20% of total partnership capital, what were (1) Terrell's cash Problem 12-04A a-b investment and (2) the bonus to the new partner? (1) Terrell's cash investment (2) Bonus to new partner Question Attempts: 0 of 5 used