Hunter, Folgers, and Tulip have been partners while sharing net income and loss in a 5:2:3 ratio (in percents: Hunter, 50%; Folgers, 20%; and Tulip, 30%). On January 31, the date Tulip retires from the partnership, the equities of the partners are Hunter, $300,000; Folgers, $210,000, and Tulip, $150,000. Prepare journal entries to record the retirement of Tulip under independent assumption Assume Tulip is paid $150,000, $170,000, $120,000 for her equity using partnership cash (Do not round intermediate calculations. Round final answers to the nearest whole dollar.) No 1 Transaction (a) General Journal Credit Debit 150,000 Tulip, Capital Cash 150,000 2 (b) Tulip, Capital Hunter, Capital Folgers, Capital Cash 150,000 18.750 11,250 180,000 3 (c) 150,000 Tulip, Capital Hunter, Capital Folgers, Capital Cash 18,750 11,250 120,000