The capital accounts of Alan Evans and Mary Farr have balances of $80,000 and $70,000 respectively. Don Reese and Gloria Swain are to be admitted to the partnership. Reese purchase one-fourth of Evans interest for $22,500 and one-fifth of Farr's interest for $15,000. Swain contributes $30,000 cash to the partnership, for which she receives an ownership equity of $30,000. a. Journalize the entries to record the admission of (1) Reese and (2) Swain b. What are the capital balances of each partner after the admission of the new partners