Wallace and Simpson formed a partnership with Wallace contributing $62,000 and Simpson contributing $42,000. Their partnership agreement calls for the income (loss) division to be based on the ratio of capital investments. Wallace sold one-half of his partnership interest to Prince for $67,000 when his capital balance was $88,000. The partnership would record the admission of Prince into the partnership as: Multiple Choice Debit Wallace, Capital $67,000, credit Prince, Capital $67,000. Debit Wallace, Capital $44,000; debit Cash $23,000; credit Prince, Capital $67,000. Debit Prince, Capital $67,000; credit Wallace, Capital $67,000. Debit Wallace, Capital $31,000; credit Prince, Capital $31,000. Debit Wallace, Capital $44,000, credit Prince, Capital $44,000