Carla Vista Accountants is a partnership with three partners. On February 28, 2021, the three partners, M. Kumar, H. Deol, and A. Kassam, have capital balances of $87,700, $74,800, and $39,500, respectively. The profit and loss ratio is 4:3:1. On March 1, 2021, Deol withdraws from the partnership and the remaining partners agree to pay him $94,400 cash from the partnership assets. After Deol leaves, Kumar and Kassam agree to a 4:2 profit ratio. During the year ended February 28, 2022, the partnership earns a profit of $24,000. Neither Kumar nor Kassam makes any withdrawals because the partnership is short of cash after paying Deol. On March 1, 2022, Kumar and Kassam agree to admit C. Mawani to the partnership with a 45% interest for $75,120 cash. After Mawani is admitted, the new profit ratio will be 4:2:5 for Kumar, Kassam, and Mawani, respectively.

View Policies Current Attempt in Progress Carla Vista Accountants is a partnership with three partners. On February 28, 2021, the three partners, M. Kumar, H. Deol, and A Kassam, have capital balances of $87,700, $74,800, and $39.500, respectively. The profit and loss ratio is 4:3:1. On March 1, 2021, Deol withdraws from the partnership and the remaining partners agree to pay him $94,400 cash from the partnership assets. After Deol leaves, Kumar and Kassam agree to a 4:2 profit ratio. During the year ended February 28, 2022, the partnership earns a profit of $24,000. Neither Kumar nor Kassam makes any withdrawals because the partnership is short of cash after paying Deol. On March 1, 2022, Kumar and Kassam agree to admit C. Mawani to the partnership with a 45% interest for $75,120 cash. After Mawani is admitted the new profit ratio will be 4:2:5 for Kumar, Kassam, and Mawani, respectively. Journalize the withdrawal of Deol from the partnership. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Mar. 1 Cash