Sudden Valley Resort is a partnership, and its owners are considering admitting Ben Peller as a new partner. On July 31, 2014, the Capital accounts of the three existing partners and their shares of profits and losses are as follows:

_____________Capital                         Profit-and-Loss Percent

Eleanor Craven ................ $20,000........................20%

Amy Osler ........................ 30,000.........................30

Brian Harmon .................. 40,000..........................50

Required

Journalize the admission of Peller as a partner on July 31, 2014, for each of the following independent situations:

1. Peller pays Harmon $55,000 cash to purchase Harmon's interest.

2. Peller invests $30,000 in the partnership, acquiring a one-quarter interest in the business.

3. Peller invests $30,000 in the partnership, acquiring a one-sixth interest in the business.