Data table Cash Accounts Receivable, Net Merchandise Inventory Equipment, Net Total Assets Assets He-Kang-Lan Oriental Design Balance Sheet December 31, 2024 12,000 Accounts Payable 19,000 89,000 80,000 He, Capital $ $ 200,000 Print Liabilities Partners' Equity Kang, Capital Lan, Capital Total Partners' Equity Total Liabilities and Partners' Equity Done $ 88,000 29,000 42,000 41,000 112,000 200,000 $ I He - Kang - Lan Oriental Design is a partnership owned by three individuals. The partners share profits and losses in the ratio of 30% to He, 40% to Kang, and 30% to Lan. At December 31, 2024, the firm has the following balance sheet. (Click on the icon to view the balance sheet.) On December 31, He withdraws from the partnership. Read the requirements. Requirement 1. In a personal transaction, He sells her equity to Wang, who pays He $110,000 for her interest. Kang and Lan agree to accept Wang as a partner. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Dec. 31 Requirement 2. The partnership pays He cash of $20,000 and gives her a note payable for the remainder of her book equity in settlement of her partnership interest. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Accounts and Explanation Debit Credit Date Dec. 31 Requirement 3. The partnership pays He $75,000 for her book equity. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. Do not round intermediary calculations. Only round the amount you input in the cell to the nearest dollar.) Date Accounts and Explanation Debit Credit Dec. 31 Requirement 4. The partnership pays He $9,000 for her book equity. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. Do not round intermediary calculations. Only round the amount you input in the cell to the nearest dollar.) Accounts and Explanation Debit Credit Date Dec. 31