Matt and Sandeep are partners with capital balances of $50 , 000 and $70 , 000 , respectively. Their partnership agreement has them allocate profits and losses on a ratio of 1:4. They agree to admit Lorna to the partnership. On May 12, Lorna invests $30 , 000 for a 30% interest in the partnership. Required: Prepare the journal entry to record Lorna's admission to the partnership.