Palmer has $90,500 capital and Hammet has $32,500 capital in the Palmer & Hammet partnership. Palmer and Hammet share profits and losses equally. Joan Philip contributes cash of $41,000 to acquire a 1/4 interest in the new partnership. Requirements 1. Calculate Philip's capital in the new partnership 2. Journalize the partnership's receipt of the $41,000 from Philip. Requirement 1. Calculate Philip's capital in the new partnership (Leave unused cells blank. Do not enter a "O" for a zero balance.) Partnership capital before admission of new partner Contribution of new partner 41,000 Partnership capital after admission of new partner $ 41.000 Capital of new partner Bonus to