Jenna Vale is admitted to a partnership. Prior to the admission of Vale, the partnership books show Tanya Wiseman's Capital balance at $81,000 and Abe Blogs Capital balance at $40,500. Wiseman and Blogs share profits and losses equally. Required 1. Compute the amount of each partner's equity on the books of the new partnership under the following plans: Vale purchases Blogs' interest in the business, paying $49,100 directly to Blogs. b. Vale invests $40,500 to acquire a one-fourth interest in the partnership. Vale invests $73,500 to acquire a one-fourth interest in the partnership. 2. Make the partnership journal entry on March 4 to record the admission of Vale under plans (a), (b), and (c) in Requirement 1. Explanations are not required. a. c. Requirement 1. Compute the amount of each partner's equity on the books of the new partnership based on each of the plans. (Enter a share for each partner. If the share equals zero, enter 0.) Share in Equity Share in Equity Plan A Share in Equity Plan B Partner Plan C Vale Wiseman Blogs Total Requirement 2. Make the partnership journal entry on March 4 to record the admission of Vale under plans (a), (b), and (c) in Requirement 1. Explanations are not required. a. Vale purchases Blogs' interest in the business, paying $49,100 directly to Blogs. (Record debits first, then credits. Explanations are not required.) Journal Entry Date Accounts Debit Credit b. Vale invests $40,500 to acquire a one-fourth interest in the partnership. Journal Entry Accounts Date Debit Credit c. Vale invests $73,500 to acquire a one-fourth interest in the partnership. Journal Entry Date Accounts Debit Credit