P12-34B Accounting for the admission of a new partner Hudson, Meehan, and Loiselle, a partnership, is considering admitting Thompson as a new partner. On July 31, 2018, the capital accounts of the three existing partners and their profit-and-loss-sharing ratio are as follows: Profit-and-Loss-Sharing % Capital Hudson $ 40,500 20% Meehan Loiselle 81,000 25% 121,500 55% Requirements Journalize the admission of Thompson as a partner on July 31 for each of the following independent situations: 1. Thompson pays Loiselle $162,000 cash to purchase Loiselle's interest. 2. Thompson contributes $81,000 to the partnership, acquiring a 1/4 interest in the business.. 3. Thompson contributes $81,000 to the partnership, acquiring a 1/6 interest in the business. 4. Thompson contributes $81,000 to the partnership, acquiring a 1/3 interest in the business. Loiselle, Capital $14,850 DR