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Jason River, Sara Down, and Cam Preti each have a $240,000 capital balance. They share profits and losses as follows:2:2:6 to River, Down, and

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Jason River, Sara Down, and Cam Preti each have a $240,000 capital balance. They share profits and losses as follows:2:2:6 to River, Down, and Preti, respectively. Suppose Preti is withdrawing from the business Requirements 1. Journalize the withdrawal of Pres if the partnership agrees to pay Pre $240,000 cash. 2. Joumalize the withdrawal of Preti if the partnership agrees to pay Pret $210,000 cash. Requirement 1. Joumalize the withdrawal of Preti if the partnership agrees to pay Pret $240,000 cash. (Record debits first, then credits. Select the explanation on the last line of the journal entry table) Debit Date Accounts and Explanation Credit

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