Required information [The following information applies to the questions displayed below.] Meir, Benson, and Lau are partners and share income and loss in a 2:3:5 ratio (in percents: Meir, 20%; Benson, 30%; and Lau, 50%). The partnership's capital balances are as follows: Meir, $68,000; Benson, $104,000; and Lau, $178,000. Benson decides to withdraw from the partnership. 2. Assume that Benson does not retire from the partnership described in Part 1. Instead, Rhode is admitted to the partnership on February 1 with a 25% equity. Prepare journal entries to record Rhode's entry into the partnership under each separate assumption: Rhode Invests (a) $116,667; (b) $85,167; and (c) $152,834. (Do not round intermediate calculations.) View transaction list Journal entry worksheet 2 3 Record the admission of Rhode with an investment of $116,667 for a 25% interest in the equity. Note: Enter debits before credits Transaction (a) Cash General Journal Debit Credit 116,667