The Gant and Morris Partnership have partner capital account balances as follows:

Gant, Capital

$270,000

Morris, Capital

90,000

The partners share profit and losses in the ratio of 6:4.

1)Prepare the journal entry on the books of the partnership to record the admission of Lars as a new partner if Lars pays $148,000to Gant and $52,000to Morris for one-half of each of their ownership interest in a personal transaction.(Credit account titles are automatically indented when the amount is entered.Do not indent manually.)

2)Prepare the journal entry on the books of the partnership to record the admission of Lars as a new partner if Lars invests $213,000in the partnership for a one-third interest in partnership capital.(Credit account titles are automatically indented when the amount is entered.Do not indent manually.)

3)Prepare the journal entry on the books of the partnership to record the admission of Lars as a new partner if Lars invests $90,000in the partnership for a one-third interest in partnership capital.(Credit account titles are automatically indented when the amount is entered.Do not indent manually.)