Meir, Benson, and Lau are partners and share income and loss in a 3:2:5 ratio (in percents: Meir, 30%; Benson, 20%; and Lau, 50%). The partnership's capital balances are as follows: Meir, $103,000; Benson, $69,000; 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 Rhodes entry into the partnership under each separate assumption: Rhode invests (a) $116,667; (b) $85,167; and (c) $152,834. (Do not round your intermediate calculations.)

Journal entry worksheet 2 3 Record the admission of Rhode with an investment of $116,667 for a 25% interest in the equity. Note: Enter debits before credits. Transaction General Journal Debit Credit (a) Record entry Clear entry View general journal Journal entry worksheet Record the admission of Rhode with an investment of $85,167 for a 25% interest in the equity. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet