Newman is retiring from the partnership of Korn, Morris, and Newman. The profit and loss ratio is 2:2:1, respectively. After the accountant has posted the revaluation and closing entries, the credit balances in the Capital accounts are: Korn, $54,000; Morris, $44,000; and Newman, $22,000. Jour¬

nalize the entries to record the retirement of Newman under each of the following unrelated assumptions. Korn and Morris will split the difference evenly.

a. Newman retires, taking $22,000 of partnership cash for her equity.

b. Newman retires, taking $26,000 of partnership cash for her equity.