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B. Higgins, J. Mayo, and N. Rice have capital balances of $95,000, $75,000, and $60,000, respectively. They share income or loss on a 5:3:2 basis.

B. Higgins, J. Mayo, and N. Rice have capital balances of $95,000, $75,000, and $60,000, respectively. They share income or loss on a 5:3:2 basis. Rice is paid $54,000 in cash from partnership assets for his withdrawal from the partnership. The entry to record the withdrawal includes a :

Select one: a. debit N. Rice, Capital 54000 b. credit N. Rice, Capital 60000 c. credit B. Higgins, Capital 9000 d. credit cash 54000

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