Part A Greenidge and Devonish have been partners in the medical supply business since January 1 , 2013. Since the formation of the partnership, profits and losses have been shared in the ratio of 55:45, respectively. Capital balances on November 30, 2017, were $159,000 for Greenidge and $106,000 for Devonish. They have agreed to admit Alleyne as a partner on December 1, 2017. Alleyne will receive a 30% interest in partnership capital, and future profits and losses will be allocated equally among the partners. Required: Prepare journal entries in the partnership books to record Alleyne's admission in each of the following situations: i. Alleyne deals directly with Greenidge and agrees to exchange land with a book value of $60,000 and a fair market value of $87,000 for 50% of Greenidge's interest in capital. [2 marks] ii. Alleyne contributes $130,000 cash and a 1 -year note with a value of $20,000 to the partnership entity. Record journal entries under the bonus and goodwill methods. [5 marks] iii. Alleyne invests $84,000 in the partnership entity. Use the goodwill method and Part B Roberts, Smith and Hinkson are partners who share profits 4:3:3, respectively. Smith decides that it would be more profitable for her to operate as a sole proprietor. Roberts and Hinkson make repeated attempts to acquire Smith's interest in the partnership. Unable to reach an agreement, the partners mutually agree that their association should be dissolved. A condensed balance sheet before realization of assets shows the following balances: Assat roalization is accomplished in three stages as follows: Required: Prepare liquidation schedule and determine how the available assets will be distributed using a schedule of safe payments. [ 15 marks]