11. Don, Ellen and Frances are partners that share income in the 6:4:1 ratio. On December 31, Frances withdraws from the partnership when the equities of the partners are Don, $6,000; Ellen, $3,600; and Frances, $2,400. Prepare the journal entry when Frances withdraws from the partnership and is paid using partnership cash of $1,400. 12. GHI Partnership was begun with investments by the partners as follows: G, $131,250; H, $165,000 and I, $153,750. The partners agreed to liquidate the partnership to share losses equally. On May 31, after all assets were converted to cash and creditors were paid, only $30,000 partnership cash remained. Compute the capital account balance of each partner after the liquidation of assets and the payment of creditors. Record the entries to allocate and loss on realization and the distribution of cash of $30,000. 11. Don, Ellen and Frances are partners that share income in the 6:4:1 ratio. On December 31, Frances withdraws from the partnership when the equities of the partners are Don, $6,000; Ellen, $3,600; and Frances, $2,400. Prepare the journal entry when Frances withdraws from the partnership and is paid using partnership cash of $1,400. 12. GHI Partnership was begun with investments by the partners as follows: G, $131,250; H, $165,000 and I, $153,750. The partners agreed to liquidate the partnership to share losses equally. On May 31, after all assets were converted to cash and creditors were paid, only $30,000 partnership cash remained. Compute the capital account balance of each partner after the liquidation of assets and the payment of creditors. Record the entries to allocate and loss on realization and the distribution of cash of $30,000