In the ABC Partnership, A capital is $400,000, B capital is $320,000, and C capital is $300,000. They share income and losses in a 6:4:2 ratios, respectively. C is retiring from the partnership.

Give the journal entries to record C withdrawal according to each of the following cases:

(5, 6)

5. C got paid $320,000 and no good will recorded.

6. C got paid $312,000 and all implied good will recorded.