formed). The partners decide to split the first $60,000 of the business's profits/losses equally, and any additional profits/losses in proportion to their initial capital contributions to the partnership. Unfortunately, MU Ltd took a hit due to the recent pandemic and thus the trio are not very successful in the first year and record a loss of $223,000. In addition, Scholes decides to leave the partnership and withdraws $100,000 from the business on his departure. Required: a) Journalise the distribution of the $223,000 loss in the first-year of the partnership. When calculating the partners' capital contribution percentages, round to 2 decimal places (example 22.53%) (2 marks) b) Journalise the departure (withdrawal) of Scholes from the partnership (2 marks) Note: No explanations are required to accompany the journals. Please distinguish between your responses to part a) and b) L formed). The partners decide to split the first $60,000 of the business's profits/losses equally, and any additional profits/losses in proportion to their initial capital contributions to the partnership. Unfortunately, MU Ltd took a hit due to the recent pandemic and thus the trio are not very successful in the first year and record a loss of $223,000. In addition, Scholes decides to leave the partnership and withdraws $100,000 from the business on his departure. Required: a) Journalise the distribution of the $223,000 loss in the first-year of the partnership. When calculating the partners' capital contribution percentages, round to 2 decimal places (example 22.53%) (2 marks) b) Journalise the departure (withdrawal) of Scholes from the partnership (2 marks) Note: No explanations are required to accompany the journals. Please distinguish between your responses to part a) and b) L