Hong-Ko-Lien Oriental Design is a partnership owned by three individuals. The partners share profits and losses in the ratio of 30% to Heng. 40% to ko, and 30% to Llen At December 31, 2024, the firm has the following balance sheet Click on the icon to view the balance sheet) On December 31 Heng withdraws from the partnership Read the requirements Requirement 1. In a personal transaction Heng sells her equity to Wing, who pays Hong $125,000 for her interest Ko and Lien agree to accept Wing as a partner (Record debits first, then credits Select the explanation on the last line of the journal entry table) Date Accounts and Explanation Debit Credit Dec 31 Requirement 2. The partnership pays Heng cash of $20,000 and gives her a note payable for the remainder of her book equity in settlement of her partnership Interest (Record debits first, then credits Select the explanation on the last line of the journal entry table) Date Accounts and Explanation Debit Credit Dec 31 Requirements. The partnership pays Hong $70.000 for her book equity Record debits first the credits Select the explanation on the last line of the journal entry tablo Do not round intermediary calculations Only round the amount you input in the cell to the nearest dollar) Date Accounts and Explanation Debit Credit Dec 31 Requirements. The partnership pays Hong 517,000 for her book cury Recorder hendes Select the explanation on the last line of the journal entry table Do not round intermediary calculations. Only round the amount you input in the cell to the nearest dollar) Date Accounts and Explanation Credit Debit Dec 31 Is - Requirements accept Wing as a personal tral then credits Record Heng's withdrawal from the partnership under the following independent plans 1. In a personal transaction, Heng sells her equity to Wing, who pays Heng $125,000 for her interest Ke and Lien agree to accept Wing as a partner 2. The partnership pays Heng cash of $20,000 and gives her a note payable for the remainder of her book equity in settlement of her partnership interest 3. The partnership pays Heng $70,000 for her book equity 4. The partnership pays Heng $17.000 for her book equity he partnership ebits first then hent of her partners! Print Done - Data table Heng Ke Lion Oriental Design Balance Sheet December 31, 2024 he journa Assets Cash S $ 81000 Accounts Receivable, Net Merchandise Inventory Equipment Net Liabilities 15.000 Accounts Payable 18.000 90.000 Partners' Equity 85,000 Heng, Capital Ke Capital Lien, Capital Total Partners' Equity 208,000 Total abilities and Partners' Equity 37 000 49,000 41,000 127.000 he journal ind S $ 208.000 Total Assets