Phillip has $35,000 capital and Fay has $15,000 capital in the Phillip & Fay partnership. Phillip and Fay share profits and losses equally. Rory Redmond contributes cash of $26,000 to acquire a 20% interest in the new partnership. Journalize the partnership's receipt of the $26,000 from Redmond. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.)