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1. (20 pts) Shirly, Curley, and Burley are partners sharing profits and losses 40/40/20 respectively. Their capital balances are: Shirley Curley Burley 175,000 300,000 275,000 750,000 a. With the approval of all the partners Shirley sells to Furley 25% of his interest for $60,000 while Burley sells 30% of her interest for $70,000. The book value of the net assets is also the fair value. No cash comes into the company. These are personal transactions. Record the entrance of Furley