Instructions Admitting New Partners 1. Prepare general journal entries showing the transactions admitting Bridges and Terrell to the partnership. If an amount box does not require an entry, leave it blank. 2. Calculate the ending capital balances of all four partners after the transactions. Deff Bowman and Kristi Emery, who have ending capital balances of $119,300 and $59,000, respectively, agree to admit two new partners to their business on August 18, 20, Dan Bridges will buy one-fifth of Bowman's capital interest for $35,460 and one-fourth of Emery's capital Interest for $35,625. Payments will be made directly to the partners. Anna Terrell will invest $71,085 in the business, for which she will receive a $71,085 capital interest. 1. Prepare general journal entries showing the transactions admitting Bridges and Terrell to the partnership. If an amount box does not require an entry, leave it blank DATE DOC. POST NO REF Page: 1 CREDIT DEBIT 1 Aug. 18 ACCOUNT TITLE Jeff Bowman, Capital Kristi Emery, Capital Dan Bridges, Capital 1 2 2 3 3 4 4 5 Aug. 18 Cash 5 6 Anna Terrell, Capital 6 7 7 Calculations 2. Calculate the ending capital balances of all four partners after the transactions. Ending Capital Balances J. Bowman K. Emery D. Bridges A. Terrell