Hu-Kuo-Lo Oriental Design is a partnership owned by three individuals share profits and losses in the ratio of30% to Hu, 4096 to Kuo, and December 31, 2016, the firm has the following balance sheet. On Decemh withdraws from the partnership. e5 P12-27A Accounting for withdrawal of a partner The partner o. A CR HU-KUO-LO ORIENTAL DESIGN Balance Sheet December 31, 2016 Liabilities Assets s 17,000 Accounts Payable 81,000 Cash Accounts Receivable, Net Merchandise Inventory Equipment, Net 14,000 96,000 75,000 Hu, Capital Partners' Equity Kuo, Capital Lo, Capital Total Partners' Equity 33,000 40,000 48,000 121,000 202,000 Total Assets s 202,000 Total Liabilities and Partners' Equity Requirements Record Hu's withdrawal from the partnership under the following independent plans 1. In a personal transaction, Hu sell her equiry to Wong, who pays Hu $140,000 t her interest. Kuo and Lo agree to accept Wong as a partner 2. The partnership pays Hu cash of $15,000 and gives her a note payable for the remainder of her book equity in settlement of her partnership interest. 3. The partnership pays Hu $45,000 for her book equity 4. The partnership pays Hu $18,000 for her book equity