structions The capital accounts of Trent Henry and Tim Chou have balances of $146,000 and $93,800, respectively. LeAnne Olbert and Becky Cane are to be and to the partnership. Gilbert buys one-fifth of Henry's interest for $29,100 and one-fourth of Chou's interest for 521,300. Clarke contributes 599 400ch to the partnership, for which she is to receive an ownership equity of $69,400. Required: a on December 31, journalize the entries to record the admission of (1) Gilbert and (2) Clarke Rrefer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for det or crear entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. b. What are the capital balances of each partner after the admission of the new partners? a. On December 31, journalize the entries to record the admission of (1) Gibert and (2) Clarke. Refer to the chart of accounts for the exact wording of the account CNOW journals do not use lines for journal explanations. Every line on a journal page is good for debit or credt entries CNOW jos astotally entry when a credit amount is entered. JOURNAL ACCOUNTING OUT DESCRIPTION DATE DERIT POST REF CENT Trents capital -vour CN en b. What are the capital balances of each partner after the admission of the new partners? Partner Capital Balance Trent Henry, Capital $ Tim Chou, Capital $ LeAnne Gilbert, Capital GA Becky Clarke, Capital $ 2 3