Ken Kraftman and Sharmila Sajjad wish to add a new partner to their partnership. Ethel Hardachre wants to join, and the current partners decide to give a $22\mathrm{.}5\%$ interest in the company, for a cash investment of $$33,300.$ Any bonus$/$deficit on admitting Ethel will be split by Ken and Sharmila in direct ratio to their capital accounts. Additional information:

Partner equity, Ken

Kraftman: $$46,400$

Sharmila Sajjad: $$32,400.$

Required: Show the calculations to add Ethel Hardachre to the partnership and the journal entry to record the transaction.