The partners share profit and losses in the ratio of 60% to Felix and 40% to Morris. Instructions Prepare the journal entry on the books of the partnership to record the admission of Singh as a new partner under the following three independent circumstances: a) Singh pays $80,000 to Felix and $95,000 to Morris for one-half of each of their ownership interests in a personal transaction. b) Singh invests $150,000 in the partnership for a one-third interest in partnership capital. c) Singh invests $1,000,000 in the partnership for a one-third interest in partnership capital