Required information [The following information applies to the questions displayed below.] Pam and John are partners in the PJ's partnership sharing income in a ratio of 3:1. Gerry is to be admitted into the partnership with a 20 percent interest in the business. Pam $ 120, 000 John 40 , 000 Required: Prepare journal entries to record Gerry's admission into the partnership for each of the following independent situations. e. Gerry invests $35,000, and goodwill is to be recorded. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list View journal entry worksheet X No Event General Journal Debit Credit A 1 Cash 35,000 Goodwill 0 Pam, Capital 11,250 John, Capital 3,750