Problem III. Prepare the necessary journal entries to admit the new partner: (25 points) WXYZ partnership capital balance amounts are: W=$60,000/X-$45,000 / Y=$30,000/ Z= $15,000. New partner Jones has various methods to join this partnership (2 separate problems): Part a.) Jones agrees to give X his car worth $22.000 and cash in the amount of $29,000 to purchase 80% of X's capital. (10 pts.) Part b.) Jones contributes a $12.000 car. $6.000 equipment. $27.000 merchandise inventory, and cash of $5,000 for a 40% interest in the partnership. WXYZ split any P/L based on a ratio of 4: 3: 2:1 (15 pts.)