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Perry, Thomas, and Johnson are partners in Thomas

Perry, Thomas, and Johnson are partners in Thomas and Company. Their capital balancesand profit and loss sharing ratios on June 30, Year 4, are as follows:Perry $216,000 .4Thomas 300,000 .5Johnson 159,000 .1Required:PART AOn July 1, Carnie invests $127,000 for a one-fifth interest in capital. Prepare journalentries for all of the possible methods available to record the admission of Carnie.PART BAssume instead that on July 1, Carnie invests $127,000 for a one-eighth interest in capital.Prepare journal entries for all of the possible methods available to record the admissionof Carnie

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