B$.$ Higgins, J$.$ Mayo, and N$.$ Rice have capital balances of $$91,500,$$$65,000,$ and $$54,000,$ respectively. They share

income or loss on a $5$:$3$:$2$ basis. Rice withdraws from the partnership under each of the following conditions.

Rice is paid $$59,280$ in cash from partnership assets, and a bonus is granted to the retiring partner.

Rice is paid $$49,600$ in cash from partnership assets, and bonuses are granted to the remaining partners.

Journalize the withdrawal of Rice under each of the assumptions above. $($Credit account titles are automatically

indented when amount is entered. Do not indent manually.$)$

No$.$ Account Titles and Explanation

Debit

Credit