The capital accounts of Trent Henry and Tim Chou have balances of $111,500 and $80,400, respectively LeAnne Gilbert and Becky Clarke are to be admitted to the partnership Gilbert buys one fifth of Henrys interest for $25,600 and one fourth of Chous interest for $17,700 Clarke contributes $27,200 cash to the partnership, for which she is to receive an ownership equity of $27,200 Question Content Area a1 Journalize the entry to record the admission of Gilbert If an amount box does not require an entry, leave it blank blank Accounts PayableCashLeAnne Gilbert, CapitalTrent Henry, CapitalTrent Henry, Drawing Select Select Accounts PayableCashLeAnne Gilbert, CapitalLeAnne Gilbert, DrawingTim Chou, Capital Select Select Accounts PayableCashLeAnne Gilbert, CapitalTrent Henry, CapitalTrent Henry, Drawing Select Select Question Content Area a2 Journalize the entry to record the admission of Clarke If an amount box does not require an entry, leave it blank blank Accounts PayableBecky Clarke, CapitalBecky Clarke, DrawingCashTrent Henry, Capital Select Select Accounts PayableBecky Clarke, CapitalBecky Clarke, DrawingCashTrent Henry, Capital Select Select Question Content Area b What are the capital balances of each partner after the admission of the new partners Partner Capital Balance Trent Henry $fill in the blank 8fac8c059fbffa8 1 Tim Chou $fill in the blank 8fac8c059fbffa8 2 LeAnne Gilbert $fill in the blank 8fac8c059fbffa8 3 Becky Clarke $fill in the blank 8fac8c059fbffa8 4

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The capital accounts of Trent Henry and Tim Chou have balances of $111,500 and $80,400, respectively. LeAnne Gilbert and Becky Clarke are to be admitted

The capital accounts of Trent Henry and Tim Chou have balances of $111,500 and $80,400, respectively. LeAnne Gilbert and Becky Clarke are to be admitted to the partnership. Gilbert buys one-fifth of Henrys interest for $25,600 and one-fourth of Chous interest for $17,700. Clarke contributes $27,200 cash to the partnership, for which she is to receive an ownership equity of $27,200.

Question Content Area

a1. Journalize the entry to record the admission of Gilbert. If an amount box does not require an entry, leave it blank.

blank	Accounts PayableCashLeAnne Gilbert, CapitalTrent Henry, CapitalTrent Henry, Drawing	- Select -	- Select -
	Accounts PayableCashLeAnne Gilbert, CapitalLeAnne Gilbert, DrawingTim Chou, Capital	- Select -	- Select -
	Accounts PayableCashLeAnne Gilbert, CapitalTrent Henry, CapitalTrent Henry, Drawing	- Select -	- Select -

Question Content Area

a2. Journalize the entry to record the admission of Clarke. If an amount box does not require an entry, leave it blank.

blank	Accounts PayableBecky Clarke, CapitalBecky Clarke, DrawingCashTrent Henry, Capital	- Select -	- Select -
	Accounts PayableBecky Clarke, CapitalBecky Clarke, DrawingCashTrent Henry, Capital	- Select -	- Select -

Question Content Area

b. What are the capital balances of each partner after the admission of the new partners?

Partner	Capital Balance
Trent Henry	$fill in the blank 8fac8c059fbffa8_1
Tim Chou	$fill in the blank 8fac8c059fbffa8_2
LeAnne Gilbert	$fill in the blank 8fac8c059fbffa8_3
Becky Clarke	$fill in the blank 8fac8c059fbffa8_4