On a excel sheet Assume that Charlotte acquired a $20\%$ interest in the partnership by contributing a

total of $$75,000$ directly to the other four partners. Goodwill is to be recorded.

Profits and losses have previously been split according to the following percentages:

Eleanor, $15\%$; Lauren, $25\%$; Graham, $35\%$; Vaughn, $25\%.$ Assume the following

balance sheet is in place at the time of the contribution.

Required:

a$.$ Prepare the journal entry or entries required to record the admission of Charlotte.

b$.$ What were the individual capital balances after Charlotte made her investment?