Mindy, Danny and Jeremy are partners with capital balances of $35,000, $45,000 and $30,000 respectively. Profits and losses are shared 45% to Mindy, 30% to Danny and 25% to Jeremy. Provide the journal entries for the partnership to record the admission of a new partner, Peter, under each of the following independent circumstance: 1. Peter purchases one-half of Mindy's partnership interest by paying Mindy $20,000 cash. 2. Peter pays the partnership $40,000 for a one-fifth interest in the partnership. Format BIU ITEM ACCOUNT TITLE DEBIT CREDIT