Question 2- Admission of a new partner Talent, a local HR consulting firm has total partners equity of $774,000 which is made up of Hall, Capital, $607,000 and Reynolds, Capital $167,000. The partners share profit/losses in ratio of 75% to Hall and 25% to Reynolds. On July 1, Morris is admitted to the partnership and given 20% interest in equity. Required: Prepare the journal entry to record the admission of Morris under each of the following unrelated assumption, in which Morris invest cash of a. $193,000 b. $237,000 c. $117,000