Struggling with this hw question part A and B$.$ Thanks in advance.

The Prince$-$Robbins partnership has the following capital account balances on January $1,2024$: Prince is allocated $60$ percent of all profits and losses with the remaining $40$ percent assigned to Robbins after Interest of $9$ percent is given to each partner based on beginning capital balances. On January $2,2024,$ Jeffrey Invests $\backslash (\backslash$$ $49,000\backslash )$ cash for a $20$ percent Interest in the partnership. This transaction is recorded by the goodwill method. After this transaction, $9$ percent interest is still to go to each partner. Profits and losses will then be split as follows: Prince $(50$ percent$),$ Robbins $(30$ percent$),$ and Jeffrey $(20$ percent$).$ In $2024,$ the partnership reports a net income of $\backslash (\backslash$$ $19,000\backslash ).$ Required: a$.$ Prepare the Journal entry to record Jeffrey's entrance Into the partnership on January $2,2024.$ b$.$ Prepare a schedule showing how the $2024$ net Income allocation to the partners should be determined. Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required $\backslash ($ B $\backslash )$ Prepare the journal entry to record Jeffrey's entrance into the partnership on January $2,2024.$ Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

The Prince$-$Robbins partnership has the following capital account balances on January $1,2024$:

Prince, Capital

$$90,000$

Robbins, Capital

$80,000$

Prince is allocated $60$ percent of all profits and losses with the remaining $40$ percent assigned to Robbins after interest of $9$ percent is

given to each partner based on beginning capital balances.

On January $2,2024,$ Jeffrey Invests $$49,000$ cash for a $20$ percent Interest in the partnership. This transaction is recorded by the

goodwill method. After this transaction, $9$ percent interest is still to go to each partner. Profits and losses will then be split as follows:

Prince $(50$ percent$),$ Robbins $(30$ percent$),$ and Jeffrey $(20$ percent$).$ In $2024,$ the partnership reports a net income of $$19,000.$

Required:

a$.$ Prepare the Journal entry to record Jeffrey's entrance Into the partnership on January $2,2024.$

b$.$ Prepare a schedule showing how the $2024$ net Income allocation to the partners should be determined.

Answer is not complete.

Complete this question by entering your answers in the tabs below.

Required B

Prepare a schedule showing how the $2024$ net income allocation to the partners should be determined.

Note: Loss amounts should be indicated with a minus sign.