Hunter, Folgers, and Tulip have been partners while sharing net income and loss in a 5:3:2 ratio (in percents: Hunter, 50%; Folgers, 30%; and Tulip, 20%). On January 31, the date Tulip retires from the partnership, the equities of the partners are Hunter, $150,000; Folgers, $90,000; and Tulip, $60,000 Prepare journal entries to record the retirement of Tulip under independent assumption Assume Tulip is paid $60,000, $80,000, $30,000 for her equity using partnership cash. (Do not round intermediate calculations.) View transaction list - Journal entry worksheet