P1, P2, and P3 are partners in XYZ Inc. Their capital balances on Dec 31, Year 5, are $239,055 for P1, $332,049 for P2, and $175,969 for P3. Among these partners on this date, the income sharing ratios are 38.05% for P1, 40.30% for P2, and the remainder for P3. On Jan 1, Year 6, a new partner P4 invests $140,555 in XYZ Inc for a one-eighth (12.5%) interest in capital. In the journal entry to admit the new partner P4, how much capital will be credited or debited to P2 on Jan 1 using the BONUS method?

a.

$11,631

b.

$11,035

c.

$10,736

d.

$11,333

e.

$11,929