Equipment is a partnership owned by three individuals. The partners share profits and losses in the ratio of 30 percent to Katherine Tell, 45 percent to Felipe Dune, and 25 percent to Elizabeth Humphrey. At December 31, 2020, the firm has the following balance sheet amounts:

Record

Tell's

withdrawal from the partnership under the following independent plans:

a.	In a personal transaction, Tell sells her equity in the partnership to Milo Adair, who pays Tell $178,000 for her interest. Dune and Humphrey agree to accept Adair as a partner.
b.	The partnership pays Tell cash of $77,000 and gives her a note payable for the remainder of her book equity in settlement of her partnership interest.
c.	The partnership pays Tell $266,000 cash for her equity in the partnership.
d.	The partners agree that the equipment is worth $557,000 (net). After the revaluation, the partnership settles with Tell by giving her cash of $50,000 and inventory for the remainder of her book equity.