Question Help George, Murphy, and Lincoln, a partnership, is considering admitting Thorton as a new partner. On July 31, 2018, the capital accounts of the three existing partners and their profit-and-loss-sharing ratio are as follows: B! (Click the icon to view the partners' capital accounts and their profit-and-loss-sharing ratio.) Read the requirements Requirement 1. Journalize the admission of Thorton as a partner on July 31 if Thorton pays Lincoln $174.000 cash to purchase Lincoln's interest. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Jul. 31 Requirement 2. Journalize the admission of Thorton as a partner on July 31 if Thorton contributes $87.000 to the partnership, acquiring a 1/4 interest in the business. (Record debits first then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit 7.1 21 2 Choose from any list or enter any number in the input fields and then continue to the next question. partner. On July 31, 2018, the capital accounts of the three existing partners and their profit-and-loss-sha ecounts and their profit-and-loss-sharing ratio.) ton as 0 Requirements edits. Select the Explar Journalize the admission of Thorton as a partner on July 31 for each of the following independent situations 1. Thorton pays Lincoln $174.000 cash to purchase Lincoln's interest. 2. Thorton contributes $87,000 to the partnership, acquiring a 1/4 interest in the business 3. Thortor contributes $87,000 to the partnership, acquiring a 1/6 interest in the business. 4. Thorton contributes $87,000 to the partnership, acquiring a 1/3 interest in the business. on as Print Done debits first, then Explanation Debit Credit George, Murphy, and Lincoln, a partnership, is considering admitting Thorton as a new partner. On July 31, 2018, the capital accounts of the three existing partners and !! (Click the icon to view the partners' capital accounts and their profit-and-loss-sharing ratio.) Read the requirements Requirement 2. Journalize the admission of Thorton as a partner on July 31 if Thorton contributes $87,000 to the partnership, acquiring a 14 interest in the business. last line of the journal entry table.) Date Accounts and Explanation Debit Credit Jul. 31 Requirement 3. Journalize the admission of Thorton as a partner on July 31 if Thorton contributes $87.000 to the partnership, acquiring a 1/6 interest in the business. last line of the journal entry table.) Date Accounts and Explanation Debit Credit George, Murphy, and Lincoln, a partnership, is considering admitting Thorton as a new partner. On July 31, 2018, the capital accounts of the three existing partners and E: (Click the icon to view the partners' capital accounts and their profit-and-loss-sharing ratio.) Read the requirements Requirement 3. Journalize the admission of Thorton as a partner on July 31 if Thorton contributes $87,000 to the partnership, acquiring a 16 interest in the business. last line of the journal entry table.) Date Accounts and Explanation Debit Credit Jul 31 h Choose from any list or enter any number in the input fields and then continue to the next question. George, Murphy, and Lincoln, a partnership, is considering admitting Thorton as a new partner. On July 31, 2018, the capital accounts of the three existing partners and BBB (Click the icon to view the partners' capital accounts and their profit-and-loss-sharing ratio.) Read the requirements Requirement 4. Journalize the admission of Thorton as a partner on July 31 if Thorton contributes $87,000 to the partnership, acquiring a 1/3 interest in the business. last line of the journal entry table.) Date Accounts and Explanation Debit Credit Jul. 31 Choose from any list or enter any number in the input fields and then continue to the next