Hello I was hoping for help on my accounting work. Thank you!

Requirement 1. Journalize the admission of Young as a partner on July 31 if Young pays Longfellow $162,000 cash to purchase Longfellow's interest. (Record debits first, then credits. Select the explanatio Date Accounts and Explanation Debit Credit Data Table Jul. 31 Capital Hutchinson Maloney Longfellow 40,500 81,000 121,500 Profit-and-Loss Sharing % 20% 25% 55% Print Done