In the GMP partnership (to which Elan seeks admittance), the capital balances of Mary, Gene, and Pat, who share income in the ratio of 6:3:1, are Mary Gene Pat $278,400 139,200 46,400 Required: a. If no goodwill or bonus is recorded, how much must Elan invest for a one-third interest? (Do not round intermediate calculations.) Elan must invest s b. Prepare journal entry for the admission of Elan if she invests $80,600 for a 20 percent interest and goodwill is recorded. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations.) Journal entry worksheet Record Elan's investment of $80,600 for a 20 percent interest. Note: Enter debits before credits. Event General Journal Debit Credit 1 Record entry Clear entry View general journal c. Prepare journal entry for the admission of Elan if she invests $202,000 for a 20 percent interest. Total capital will be $666,000; the partners use the bonus method. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations.) View transaction list Journal entry worksheet