In the LMK partnership, Luis's capital is $40,800, Marty's is $51,100, and Karl's is $30,600. They share income in a 4:1:1 ratio, respectively. Karl is retiring from the partnership. Required: Prepare journal entries to record Karl's withdrawal according to each of the following independent assumptions: a. Karl is paid $38,800, and no goodwill is recorded. b. Karl is paid $43,200, and only his share of the goodwill is recorded. c. Karl is paid $35,200, and all implied goodwill is recorded. Complete this question by entering your answers in the tabs below. Required A Required B Required C Prepare journal entries to record Karl's withdrawal according to each of the following independent assumptions: Karl is paid $38,800, and no goodwill is recorded. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet

In the LMK partnership, Luis's capital is $40,800, Marty's is $51,100, and Karl's is $30,600. They share income in a 4,1:1 ratio, respectively. Karl is retiring from the partnership. Required: Prepare journal entries to record Karl's withdrawal according to each of the following independent assumptions: a. Karl is paid $38,800, and no goodwill is recorded. b. Karl is paid $43,200, and only his share of the goodwill is recorded. c. Karl is paid $35,200, and all implied goodwill is recorded. Complete this question by entering your answers in the tabs below. Prepare journal entries to record Karl's withdrawal according to each of the following independent assumptions: Karl is paid $38,800, and no goodwill is recorded. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field Journal entry worksheet Record the payment of $38,800 to Karl and no goodwill is recorded