MetaFatema and Hassan invested $$500,000$ and $$200,000$ respectively in a partnership, and they share profits and losses equally. At the beginning of $2023$ new partner Safya admitted to the partnership.

Instructions:

Prepare the journal entry to record the admission of Safya into the partnership under each of the following separate conditions:

$1-$ Safya acquires a $30\%$ of the total new capital for a $$300,000$ cash investment.

$2.$ Safya invests $$200,000$ for a $25\%$ interest in capital. Implicit goodwill is to be recorded.