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The capital accounts of Hope and Indiana have balances of $115,000 and $95,000, respectively, Clint and Casey are to be admitted to the partnership. Clint

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The capital accounts of Hope and Indiana have balances of $115,000 and $95,000, respectively, Clint and Casey are to be admitted to the partnership. Clint buys one-pin of Hope's interest for $30,000 and one-fourth of Indiana's interest for $20,000. Casey contributes 545,000 cash to the partnership, for which he is to receive an ownership equity of 545,000 Required: 1. Journalize the entries to record the admission of (a) Clint and (b) Casey. If an amount box does not require an entry, leave it blank > 111 0 2. What are the capital balances of each partner after the admission of the new partners? Hope Indiana Clint Casey

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