Gary, Peter, and Chris own a firm as partners. Gary has a capital balance of 27,000; Peter a capital balance of $39,000; and Chris has a capital balance of $30,000. As per the partnership agreement, Gary gets a profit share of 2/9; Peter has 4/9; and Chris has 3/9. Which of the following is true, if Gary withdraws from the partnership by receiving $27,000?

A.

Gary, Capital will be debited for $27,000.

B.

Peter, Capital and Chris, Capital will be credited for $13,500 each.

C.

Cash is debited for $27,000.

D.

Peter, Capital will be credited for $27,000.