PAUL, GENE and KENZO are partners with capital balances and profit and loss ratios of $50,000 (30%), $70,000 (20%) and $79,500 (50%), each respectively. The partnership owes KENZO $20,000, while GENE owes the partnership $10,000. ALLAN is admitted into the partnership by purchasing 1/2 of the capital of PAUL and GENE for $70,000 and investing $30,000 for a 40% interest in the partnership

How much is the bonus of GENE from ALLAN, after ALLAN'S admission?

A.)300

B.)None

C.) 8,000

D.) 360

What is the capital balance of GENE after the admission of ALLAN ?

A.) 38,100

B.) 35,300

C.)34,640

D.) 35,000