The ABCD Partnership has the following balance sheet at January 1, 20X0, prior to the admission of new partner, E.

Cash and current assets	$39,000	Liabilities	$52,000
Land	234,000	As capital	26,000
Building and equipment	130,000	Bs capital	52,000
		Cs capital	117,000
		Ds capital	156,000
Total assets	$403,000	Total liabilities and capital	$403,000

E contributed $124,000 in cash to the business to receive a 20% interest in the partnership. Goodwill was to be recorded. The four original partners shared all profits and losses equally. Required: (A) Prepare the journal entries necessary to record goodwill. (B) After goodwill has been recorded, what were the individual capital balances of the original partners? (C) Prepare the journal entry necessary to record E's contribution.