Hunter, Folgers, and Tulip have been partners while sharing net income and loss in a 5:4:1 ratio (in percents: Hunter, 50%; Folgers, 40%; and Tulip, 10%). On January 31, the date Tulip retires from the partnership, the equities of the partners are Hunter, $330,000; Folgers, $231,000; and Tulip, $165,000.

Prepare journal entries to record the retirement of Tulip under the following independent assumptions.

Assume Tulip is paid $165,000, $185,000, $135,000 for her equity using partnership cash.