SHARAWY2 eferences Mailings Review View Help Problem 3-20 points The Statement of Financial Position of the XY partnership on December 31, 2018, appears below. Cash $ 60,000 Liabilities $ 60,000 Other Assets 200,000 X, Capital 90,000 Y, Capital 110,000 Total Assets $260.000 Total Liabilities and Capital $260.000 X and Y share profits and losses in the ratio 60:40. Each of the following questions is independent of the others. Prepare journal entries for each of the following: Use bonus method where appropriate and show all computations. a. Refer to the above information. Assume Z invests $60,000 cash into the XY partnership for a one-fourth interest in partnership capital and profits. Show computations b. Refer to the above information. Assume that Z invests $80,000 cash into the XY partnership for a one-fifth interest in partnership capital and profits. Show computations