Razul and Amy decided to start a partnership called SA Consulting on January 1, 2020. Each of them contributed a number of items to the partnership, which are listed below. All tangible assets are listed at their market value. On March 1, Razul and Amy added a new partner to the business, Sheila. Sheila will contribute $130,000 and receive a 35% share of the business. Use the capital balances from January 1 to determine any bonuses. Assume the existing partners will split any bonus evenly. c) Prepare the journal entry to record the admission of the new partner on March 1. 4 Marks Date Account Title and Explanation Debit Credit d) Prepare the journal entry to record the partner withdrawals of cash. 3 Marks Date Account Title and Explanation Debit Credit e) Prepare a schedule showing the allocation of the net income to the partners. 12 Marks \begin{tabular}{|l|l|l|l|l|l|l|} \hline & Total & Razul & Amy & Sheila \\ \hline & & $481,800 & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & & \\ \hline & & & & & & \\ \hline \end{tabular}