Part 4 In the ABC partnership, the capital balances of Albert, Bert, and Connell, who share income in the ratio of 5:3:2, are: a) Daniel wishes to be admitted to the partnership and have a 20 percent interest. The partnership agrees to admit Daniel with a $275,000 investment and Goodwill to be recorded to prior partners. What is the joumal entry needed to admit Daniel? Show calculations. b) If, instead, Daniel invests $250,000 for a 20 percent interest, resulting in total capital of the partnership being $1,250,000. No Goodwill is recorded and any Bonus is applied to prior partners. What is the journal entry needed to admit Daniel? Show calculations. c) II, instead, Daniel pays $300,000 directly to Albert for a 20% interest in the partnership. Daniel is assigned his 20% ownership solely from Albert's capital account