Peary has $70,000 capital and Haye has $50,000 capital in the Peary \& Haye partnership. Peary and Haye share profits and losses equally. James Pole contributes cash of $40,000 to acquire a 1/4 interest in the new partnership. Requirements 1. Calculate Pole's capital in the new partnership. 2. Journalize the partnership's receipt of the $40,000 from Pole. Requirement 1. Calculate Pole's capital in the new partnership. (Leave unused cells blank. Do not enter a " 0 " for a zero balance.)