Kala and Leah, partners in Best Designs, have capital balances of $40,000 and $60,000, respectively. Adam joins the partnership by buying one-half of Kala's interest for $30,000. In addition, because of Adam's outstanding sales skills, the partners agree to increase his interest to 40% if he invests another $10,000. The incomesharing ratio of Kala, Leah, and Adam is 4:3:1. a. Journalize the entries for the admission of Adam to the partnership. If an amount box does not require an entry, leave it blank. (1) (2) b. Immediately after Adam's admission to the partnership, Leah sells one-fourth of her interest to Denton for $35,000. Journalize the entry for this transaction. If an amount box does not require an entry, leave it blank
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