E12.14 Journalize withdrawal ofa partner with payment from partnership assets. Accounting for Partnerships 3/27/19, 11:59PM B. Higgins, J. Mayo, and N. Rice have capital balances of $95,000, S75,000, and $60,000, respectively. They share income or loss on a 5:3:2 basis. Rice withdraws from the partnership under each of the following conditions. 1.Rice is paid $64,000 in cash from partnership assets, and a bonus is granted to the retiring partner. 2.Rice is paid $52,0 00 in cash from partnership assets, and bonuses are granted to the remaining partners