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Meir, Benson, and Lau are partners and share income and loss in a $2$:$3$:$5$ ratio $($in percents: Meir, $20\%$; Benson, $30\%$; and Lau, $50\%).$ The partnership's capital balances are as follows: Meir, $$68,000$; Benson, $$104,000$; and Lau, $$178,000.$ Benson decides to withdraw from the partnership.

$2.$ Assume that Benson does not retire from the partnership described in Part $1.$ Instead, Rhode is admitted to the partnership on February $1$ with a $25\%$ equity. Prepare journal entries to record Rhode's entry into the partnership under each separate assumption: Rhode invests $($a$)$ $$116,667$; $($b$)$ $$85,167$; and $($c$)$ $$152,834.$

Note: Do not round intermediate calculations.

Journal entry worksheet