Wallace, Simpson, and Prince are partners and share income and losses in a 26.2 ratio. The partnership's capital balances are Wallace, 568,120 Simpson, $78,600, and Prince, $75,980. Royal is admitted to the partnership on July 1 with a 15% equity and invests $39,300. The partnership would record the admission of Royal into the partnership as Multiple Choice o Debit Cash $39.300, credit Simpson, Capital $5,895credit Royal Capital $33.405. Debit Wallace, Capital 57.860, debit Simpson, Capital, $23,580, debit Prince Capital 57,860, credit Royal Capital $39,300 Debit Cash $29,300. debit Wallace, Capital $2,000, debit Simpson, Capital, $6.000, debit Prince, Capital $2.000, credit Royal Capital $39,300 O o oo o Debit Cash $11790: credit Prince, Capital $11.790. Debit Cash 539,300, credit Royal Capital 539,300