Meir, Benson, and Lau are partners and share income and loss in a 2:3:5 ratio (in percents: Meir, 20%; Benson, 30%; and Lau, 50%). The partnership's capital balances are as follows: Meir, $88,000; Benson, $134,000; and Lau, $228,000. Benson decides to withdraw from the partnership.

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) $150,000; (b) $109,500; and (c) $196,500. (Do not round your intermediate calculations.)

Record the admission of Rhode with an investment of $150,000 for a 25% interest in the equity.

Record the admission of Rhode with an investment of $109,500 for a 25% interest in the equity.

Record the admission of Rhode with an investment of $196,500 for a 25% interest in the equity.