Gary, Peter, and Chris own a firm as partners. Gary has a capital balance of

$ 28 comma 000$28,000;

Peter a capital balance of

$ 37 comma 000$37,000;

and Chris has a capital balance of

$ 30 comma 000$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

$ 28 comma 000$28,000?

A.

Peter, Capital will be credited for

$ 28 comma 000$28,000.

B.

Gary, Capital will be debited for

$ 28 comma 000$28,000.

C.

Cash is debited for

$ 28 comma 000$28,000.

D.

Peter, Capital and Chris, Capital will be credited for

$ 14 comma 000$14,000

each.