SCENARIOL S. Pagan and T. Tabor share income on a 7 : 3 basis. They have capital balances of $100,000 and $56,000, respectively, when W. Wolford is admitted to the partnership. Prepare the journal entry to record the admission of W. Wolford under each of the following assumptions.

Problem A: Investment of $87,000 cash for a 30% ownership interest with bonuses to the existing partners.

Account Titles and Explanations ($ amount) needed. 4 fields available.

Problem B: Investment of $47,000 cash for a 30% ownership interest with a bonus to the new partner.

Account Titles and explanations ($ amount). 4 fields available