Blossom Oil Imports is a partnership owned by Magda Johnson and Giannis Jone. The partners share profit on a 3 basis, respectively. On January 1, 2024, they have capital balances of $80,000 and $48,000, respectively. On that da Magda and Giannis agree to admit lona Denner to the partnership in exchange for an investment of cash into the partnership. (a) Prepare the journal entry to record the admission of Denner on January 1 under each of the follow independent assumptions: (Credit account titles are automatically indented when the amount is entered. Do not in manually. Do not round any intermediate calculations. List all debit entries before credit entries. If no entry is requi select "No Entry" for the account titles and enter 0 for the amounts.) 1 2 Denner invests $40,000 cash for a 30% ownership interest. This is an investment of assets. Denner invests $72,000 cash for a 30% ownership interest. Th an investment of assets. Date Account Titles (1) Jan. 1 (2) Jan. 1 AC + Debit Credit 111 "T" (a) Blossom Oil Imports is a partnership owned by Magda Johnson and Giannis Jone. The partners share profit on a 3:2 basis, respectively. On January 1, 2024, they have capital balances of $80,000 and $48,000, respectively. On that day. Magda and Giannis agree to admit lona Denner to the partnership in exchange for an investment of cash into the partnership. 1 Prepare the journal entry to record the admission of Denner on January 1 under each of the following independent assumptions: (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Do not round any intermediate calculations. List all debit entries before credit entries. If no entry is required, select "No Entry for the account titles and enter 0 for the amounts.) 2 Date Account Titles Denner invests $40,000 cash for a 30% ownership interest. This is an investment of assets. Denner invests $72,000 cash for a 30% ownership interest. This is an investment of assets. (1) Jan 1 3 (2) Jan. 1 Ć : # Debit Credit