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Jared, Shelly, and Cameron each have a $310,000 capital balance. They share profits and losses as follows: 1:1:2 to Jared, Shelly, and Cameron, respectively. Suppose

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Jared, Shelly, and Cameron each have a $310,000 capital balance. They share profits and losses as follows: 1:1:2 to Jared, Shelly, and Cameron, respectively. Suppose Cameron is withdrawing from the business. Requirements 1. Journalize the withdrawal of Cameron if the partnership agrees to pay Cameron $310,000 cash 2. Journalize the withdrawal of Cameron if the partnership agrees to pay Cameron $220,000 cash Requirement 1. Journalize the withdrawal of Cameron if the partnership agrees to pay Cameron $310,000 cash (Record debits first, then credits. Select the explanation on the last line of the journal entry table.)

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