Enabled: TEST #1 i Saved Wallace and Simpson formed a partnership with Wallace contributing $82,000 and Simpson contributing $62,000. Their partn calls for the income (loss) division to be based on the ratio of capital investments. Wallace sold one-half of his partnership inter $72,000 when his capital balance was $93,000. The partnership would record the admission of Prince into the partnership as: Multiple Choice Debit Wallace, Capital $72,000; credit Prince, Capital $72,000. Debit Wallace, Capital $46,500; credit Prince, Capital $46,500 Debit Wallace, Capital $41,000, credit Prince, Capital $41.000 I. Wallace, Capital $46,500, debit Cash $25,500, credit Prince, Capital $72,000 Debit Prince, Capital $72000, credit Wallace Capital $72.000 Prev 20 cot 50 Nex